TAYLOR, B.C. – District of Taylor Council gave the fourth and final reading to a Temporary Borrowing Bylaw at a recent Council Meeting.
The now approved Bylaw (No. 831, 2019), allows the District to access short term financing so that the costs associated with the ‘Parcel Z subdivision’ can be paid.
Located along Spruce Street, this parcel is a 22-acre piece of District property that includes 50 lots for new single-family homes.
Also during the meeting, it was announced that the parcel of land will now be referred to as ‘Jarvis Crescent’ rather than the previous name of ‘Parcel Z subdivision’.
The District received permission from the Jarvis Family to name it in honour of the late former Mayor, Fred Jarvis, after a suggestion made by Council at a previous meeting.
Based on the existing approvals the District can borrow up to $4,224,285 in loans.