It seems to me that the CVRD really thinks money grows on trees in Union Bay, Royston and Cumberland.
On Jan. 22, they disclosed the approximate cost to each homeowner from Royston to Union Bay, for hook-up to their proposed liquid waste management plan.
Four options are on the table, all around $25,000 per home but could go up 30-50 per cent, meaning the actual cost could be $32,500 – $37,500.
Infrastructure projects rarely come in on- or under- budget. Every homeowner in that area suddenly faces a liability of $30,000 give or take.
Property values in Area B have been stagnant or down for the last few years, so putting $25,000 on the mortgage to finance this is impossible for many. It is unrealistic to expect young families, retired couples and anyone in between to spit up $25,000 or $30,000 for a sewer system they don’t need. OK says the CVRD, you can borrow it from us or the province at five per cent over 20 years.
I’d like all homeowners from Union Bay to Royston to realize that in the most optimistic scenario, for proposal C for instance, their monthly payments come to $219.17 if they borrow the money and include the maintenance fee. That is $2,630 a year.
For some, that is more than their property tax, and that will growing too even when interest rates don’t go up, to over $2,900 by year 20. That is about $55,300 for your septic.
For half that money or less, individuals that have problematic septic systems can get theirs replaced and will not face staggering annual fees.
How much money will there be made on this project over the backs of home-owners?
Yes, but we need to clean up those leaky septics here and there and what other arguments there are. It should not have come to this.
This matter is too serious to just be pushed through and requires an election or referendum.