During a special Castor council meeting on May 3, council unanimously voted to borrow up to $450,000 on behalf of the Castor Recreation Board, to partially fund the arena renovation project.
The tenders have been received and the project cost is $951,642. This includes the cost of the architects, asbestos abatement, project manager, and the building permit.
Currently the Recreation Board has an estimated $450,000 to put towards the project creating a difference of $51,642.
“We will come up with the rest,” stated Recreation Director, Natasha Bozek, “We will have too.”
Bozek shared that the Recreation Board is expecting funds from different avenues, including a casino, mens night out and other donations, although the exact amount is unknown.
The Recreation Board is currently setting a date for the asbestos removal, and once it is finished demolition will start.
Coun. Tony Nichols approved the revised budget brought to council by administration. The revised edition included the addition of the borrowing of $450,000.
The 2018 budget includes $1,800,000 for capital purchases and projects including $50,000 for fire hall upgrades, $400,000 for infrastructure project completion, $128,000 for the purchase of a backhoe and $80,000 for a garbage truck.
The 2018 projected revenues being $5,390,777 and the project expenditures $5,388,412.