Cowichan Valley Regional District to loan money for new Chemainus library

The construction of a new library in Chemainus will receive assistance from the Cowichan Valley Regional District.

  • Fri Jun 17th, 2016 3:00pm
  • News

The construction of a new library in Chemainus will receive assistance from the Cowichan Valley Regional District.

The board has decided to borrow $2.23 million from the Municipal Finance Authority on behalf of the Vancouver Island Regional Library. The board gave the first three readings to a bylaw to borrow the money, and there will be no impact on taxes as the VIRL will be paying back the loan.

Public approval for this process will be sought later in the summer.

If approved by taxpayers, the CVRD will provide the financing, the Municipality of North Cowichan will provide the land and the VIRL will build the new Chemainus Library.