TAYLOR, B.C. – District of Taylor Council gave the first three readings to a Temporary Borrowing Bylaw at a recent Council Meeting.
The proposed Bylaw (No. 831, 2019), if adopted, would allow 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.
At a Council Meeting on January 21, the District was looking to change the name from ‘Parcel Z’ to a name that honours former Mayor Fred Jarvis.
Based on the existing approvals the District can borrow up to $4,224,285.
The Bylaw must go through four readings before final approval.