The City of Revelstoke will be looking at other funding options for replacing the arena roof after their application for funds was denied.
City staff applied for a $9 million grant from the Investing in Canada Infrastructure Program in January of 2019.
During budget deliberations earlier this year, replacing the arena roof was added to the budget, despite not knowing the results of the grant application.
Without the grant money, the city will have to borrow $7 million for the project, however, given the price tag, an alternative approval process will be required-either a referendum or a collection of signatures.
If the community agrees that borrowing money is the best option, the city would have a debt repayment of approximately $344,000 a year beginning in 2022 and continuing to 2051, said Tania McCabe, director of finance for the city, in a report to council, in January of 2020.
If approved, it’s likely the project wouldn’t happen until 2021 or 2022 with the planning and tender process.
Laurie Donato, director of parks, recreation and culture for the city, said, in January, that she couldn’t assure council the roof will hold up until then, but she added city staff are doing their due diligence by managing snow and getting a yearly inspection.
“As long as we have a plan to move forward with the replacement, that is the best that we can do,” she said at a special council meeting in January.