Council approves reserve update to Peace River Agreement

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FORT ST. JOHN, B.C. — The City will be saving 10 to 15 per cent of the Peace River Agreement funds for reserves, as resolved at the City’s meeting on Monday afternoon.

The recommendation was first made at the City’s Dec. 14 meeting, when Council resolved to reserve a portion of the funds with flexibility to reserve more or less, depending on the year and the planned projects it holds.

The biggest fraction of the funding, 35 per cent, is allocated to transportation — encompassing roads, sidewalks, streets, and the likewise. In specific categories, 15 per cent is for equipment/vehicles, 10 per cent of the funding is for facilities/buildings, another 10 per cent for operating costs. Miscellaneous projects are placed in a 30 per cent funding allocation.

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The City has to send forward an application to the Province with the planned projects for approval.

Since last fall, the city has reviewed the projects they would like to accomplish this year in meetings during the late half of 2015, noting where projects fit within the $23,269,000 funding provided through the Peace River Agreement.

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