TOWNSHIP OF ESQUIMALT MEMORANDUM
MEETING DATE: May 6, 2024 Report No. ADM-24-022
TO: Council
FROM: Sarah Holloway, Deputy Corporate Officer
SUBJECT: Municipal Consent for CRD Bylaw No. 4588 - Regional Parks Loan Authorization Bylaw No. 1, 2024
INFORMATION:
The Township received correspondence from the Capital Regional District (CRD) on April 15, 2024, requesting municipal consent for Bylaw No. 4588 “Regional Parks Loan Authorization Bylaw No. 1, 2024” a bylaw to authorize the borrowing of fifty million dollars ($50,000,000) for the purpose of financing the Regional Trestles Renewal, Trails Widening and Lighting Project.
Council is requested to consider the bylaw and the background information provided and either give endorsement for Bylaw No. 4588 with the following resolution or provide an alternative direction to the CRD.
“That Council consent to the CRD adopting Bylaw No. 4588, “Regional Parks Loan Authorization Bylaw No. 1, 2024”.
REVIEWED BY:
1. Ian Irvine, Director of Finance, Reviewed
2. Deb Hopkins, Director of Corporate Services, Reviewed
3. Dan Horan, Chief Administrative Officer, Concurrence
LIST OF ATTACHMENTS:
1. Letter dated April 15, 2024 from the Corporate Officer and General Manager, Corporate Services of the CRD
2. Bylaw No. 4588
3. CRD Staff Report: Bylaw No. 4588 Loan Authorization (March 6, 2024)
4. CRD Staff Report: Regional Trails Project - Funding Options (July 19, 2023)