Richard Froese
South Peace News
Special capital funding from Big Lakes County to the Town of Swan Hills will now fluctuate with the rate of the county’s linear assessment.
At its regular meeting Feb. 8, council approved a staff recommendation to amend the viability agreement with Swan Hills that set the base capital funds of $1 million from the county from linear revenue.
“We’ve amended the agreement to connect the transfer fund to reflect the rise and fall of the linear assessment based on 2016,” says CAO Roy Brideau.
“As the linear assessment grows, so will the funding.”
The decision came as a result of the linear assessment falling last year when the county lost $1,078,104 in taxation revenue from the previous year.
As a result, Brideau estimates Swan Hills will see its grant reduced by about $185,000.
Funding of $1 million to the Town of High Prairie will also be changed.
“We will introduce a similar amendment with the Town of High Prairie,” Brideau says.
Currently, the local town and county are reviewing the inter-municipal cost-sharing agreement to renew the document for a five-year term.
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