City council has taken the first step in a series of approvals that must be met before a new Twin Pad facility is constructed in Sault Ste. Marie.
Council gave the nod Monday to staff by approving a borrowing bylaw required to apply for Infrastructure Ontario long-term financing for the project.
The bylaw allows the city to file its application for funding, a decision that is expected to be made in mid March when it is reviewed by Infrastructure Ontario’s board.
Council passed a resolution in December to approve in principle the funding of a Twin Pad project not exceeding $28,800 through long term debt financing. The facility is not to impact the tax levy.
Shelley Schell, the city’s chief financial officer and treasurer, said in a report to council that “in order to ensure that the financing is in place when the tender for the construction of the Twin Pad project is closed and presented to council for approval, application is required immediately. The city is not committed to the long-term debt if the project does not proceed and the application may be cancelled without penalty.”