Steinbach City Council has scheduled public hearings at the City of Steinbach Council Chambers (City Hall, 225 Reimer Ave) on Tuesday, March 2, 2010 at 7:45pm.  Council will hear any person who wishes to make a representation, ask questions, or register an objection to the following Local Improvement Plans:

Plan 2009-03 (Amended)
Jake Epp Public Library Expansion

Intent: The City plans to expand the Jake Epp Public Library, originally constructed in 1996. This amended local improvement plan seeks to increase the borrowing authority of this project from $900,000.00 to $2,800,000.00, being an increase of $1,900,000.00. The original local improvement by-law for this project authorized the expansion of the library and was approved on April 21, 2009. This plan anticipated that federal and provincial capital grants would be provided in order to offset the costs of the project. These anticipated grants were not approved and in order to proceed with the project, the additional borrowing capacity is required. The project will add approximately 10,200 square feet to the existing 8,000 square foot building. Work will commence in July 2010 and be completed by June 2011. The expanded facility will provide for improved library services to be offered to the growing patron base from the region and from the City.

Estimated Costs: Total costs of the project remain unchanged and are estimated to be $2,850,000.00. Debentures totaling $2,800,000.00 will be issued to fund the majority of the construction costs.
 
The additional debenture authority approval sought under this amended plan will amount to $1,900,000.00 and is to be repaid over a ten-year period with annual principal and interest amounts payable on December 1st of each year from 2011 to 2020 inclusive. This annual debenture re-payment will be $270,517.26 based on an estimated maximum annual interest rate of 7.0%.

The previously approved debenture authority of $900,000.00 will see this debenture repaid over a five-year period with annual principal and interest amounts payable on December 1st of each year from 2011 to 2015 inclusive. This annual debenture re-payment will be $219,501.62 based on an estimated maximum annual interest rate of 7.0%.

Taxpayers Affected: The additional $1,900,000.00 of debenture related costs for this project are to be borne by a mill rate levy on all taxable, grant-in-lieu, and otherwise exempt property within the City’s General Local Improvement District.

Taxpayer Impact: Based on the City’s 2010 Assessment Roll, debenture repayment and financing costs for the additional borrowing would result in an equivalent annual levy of 0.447 mills from 2011 to 2020 inclusive. This would amount to annual property taxes of approximately $35.00 per year during the term of the debenture for a residential property having an estimated market value of $170,000.00.

The previously approved debenture repayment and financing costs would result in an equivalent annual levy of 0.363 mills from 2011 to 2015 inclusive. This would amount to annual property taxes of approximately $28.00 per year during the term of the debenture for an average residential property having an estimated market value of $170,000.00.

Plan 2010-01
Henry Street Sewer Main Renewal

Intent: To replace the sewer main located along Henry St. between Barkman Ave. and Reimer Ave. The total length of pipe to be replaced is approximately 300 meters. Work will commence in June 2010 and be completed by August 2010. The existing pipe was originally installed in 1960, has reached the end of its useful life, and requires replacement.

Estimated Costs: Total project costs are estimated to be $400,000.00. Debentures in the amount of $200,000.00 are to be issued to fund 50% of the anticipated costs. The remaining project costs of $200,000.00 are to be funded by the City’s Utility Replacement Reserve.

Taxpayers Affected: The $200,000.00 of debenture related costs for this project are to be borne by a mill rate levy on all taxable, grant-in-lieu, and otherwise exempt property in the City’s Waste Water Local Improvement District.

Taxpayer Impact: Based on the City’s 2010 Assessment Roll, debenture repayment and financing costs would result in an equivalent annual levy of 0.083 mills from 2011 to 2015 inclusive. This would amount to annual property taxes of approximately $7.00 per year during the term of the debenture for a residential property having an estimated market value of $170,000.00.

Copies of these local improvement plans are available for review and may be examined by any person during regular office hours of Steinbach City Hall, 225 Reimer Avenue.  If you would like more information regarding the proposed construction projects or schedules, please contact the City of Steinbach at 204-326-9877.