Nanaimo city council voted 7-2 to do a second Alternative Approval Process (AAP) to take out a $48.5 million loan for a new public works yard in Nanaimo after the previous one run in November was found to have been done without giving proper notice.
Coun. Sheryl Armstrong, says that if voters reject the proposal to take out a loan, it will mean there is a steep property tax increase this year. City staff pegged the initial tax increase at 3.6 per cent in 2024, which would mean a 11.6 per cent overall increase to the city’s portion of property taxes.
Voters will be able to submit a form in opposition to the Nanaimo Operations Centre loan between Jan. 18 and Feb. 20. A minimum of 7,889 forms in opposition to the loan is required to defeat the proposal.
If the proposal fails, city council would have to hold a referendum to take out the loan.
