The Cowichan Valley Regional District will hold an information meeting next month on a proposal by the district to purchase Shawnigan Village Waterworks.
The private water system is owned by Lidstech Holdings, but they are considering retiring and a purchase agreement has been negotiated with the CVRD.
The meeting will take place on March 11, 2024 at the Shawnigan Community Centre in Shawnigan Lake to allow residents to learn more about the purchase.
An engineering consultant hired to study the feasibility of buying Shawnigan Village Waterworks recommends regional ownership as the best option for long-term water sustainability.
CVRD General Manager of Operations, Darcy Mooney, says the system is in good condition and the “proximity to other CVRD-operated water systems and future amalgamation possibilities are also major benefits for residents.”
Mooney says the CVRD can also apply for grants to fund system updates to keep rates more stable.
The purchase price for Shawnigan Village Waterworks is $3.2 million, and includes approximately $9 million worth of assets.
It would require long-term borrowing and the CVRD needs to adopt a bylaw approved by property owners of the system through either an Alternate Approval Process, petition process or Referendum.
The regional district says an AAP will likely be the method used to obtain public approval for the acquisition.
