Funding source cleared up
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The District of Sooke will be reimbursing the Park Reserve Fund for $315,000 (plus interest) in funding used to purchase the lot at 6937 West Coast Road.
The lot is to be used for a public boat launch and also has an easement on it for the benefit of the Prestige hotel/convention centre being built on two abutting lots.
Questions had been raised as to legality of using park funds for the purchase as the designated use was not strictly a “park.” The Community Charter states that park land may only be used for park purposes.
“We felt justified that we could use the park fund because it was accessible to the public,” said Mayor Janet Evans.
The funding for the purchase of the lot came from three sources: $280,000 General Operating Surplus; $320,000 property taxes; $325,000 Park Land Reserve Fund.
Director of Finance Dave Devana recommended that $315,000 plus interest be transferred from the Casino Revenue Fund to the Park Land Reserve Fund in the 2010 budget. Each year $300,000 in funding is received from the View Royal Casino and deposited to the Casino Revenue Fund.
Devana said the move will remove any uncertainty.
“It is better, cleaner to take funds from a different source,” said Devana at the special council meeting on October 20.
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