Fifth Street Bridge AAP
Fifth Street Bridge AAP
An Alternative Approval Process (AAP) to measure public support for borrowing funds to rehabilitate the Fifth Street Bridge is now complete.
A total of 52 valid Elector Response Forms were received for Bylaw 2978 prior to the deadline of 4:30 p.m., November 16th, 2020. As the City did not receive elector response forms surpassing 10% of the total number of electors in opposition of the proposed Bylaw, elector approval has been achieved.
In order to proceed with construction in 2021, the City of Courtenay will need to borrow $3.4 million. Council adopted Loan Authorization Bylaw 2978 at the December 9, 2020 Council meeting.
What is the Fifth Street Bridge Rehabilitation Project?
The Fifth Street Bridge was constructed in 1960. The last significant investment in the bridge, including seismic upgrading, was in 2012. The bridge requires structural improvements, new coating to repair and prevent corrosion, and deck repairs. Active construction is planned to start in spring 2021, and is expected to take approximately six months.
Total project costs are estimated at $6.5 million. The project will be funded through a combination of $1.96 million in grant funding, $3.4 million in borrowing, and the remainder from funds carried forward from the prior budget year and reserves.
Annual debt servicing costs for this project are estimated at $233,293 over 20 years. The impact to the average residential property would be approximately $13/year.
Learn more about the Fifth Street Bridge Rehabilitation Project
Other Documents:
- November 30, 2020 Briefing Note: 5th Street Bridge Rehabilitation Project Update [PDF - 6 MB]
- September 21, 2020 Staff Report: 5th Street Bridge Rehabilitation - Alternative Approval Process (AAP) [PDF - 5 MB]
- April 20, 2020 Staff Report: 5th Street Bridge Loan Authorization Bylaw 2978 [PDF - 3 MB]
- January 27, 2020 Staff Report: 5th St Bridge Rehabilitation [PDF - 2 MB]
- 5th Street Bridge Rehabilitation Loan Authorization Bylaw No. 2978, 2020 [PDF - 376 KB]
For further information about the AAP, please contact the Corporate Officer at 250-334-4441 or info@courtenay.ca