Town of Sidney Committee of the Whole Agenda April 2026
MFA BC slated to finance Central Saanich recreation build
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Description
The Capital Regional District plans to finance up to $14.2 million for a new Central Saanich recreation facility through the Municipal Finance Authority of British Columbia. Final borrowing will follow municipal consents, Inspector approval, and adoption of the loan authorization bylaw.
Contract Details
Contract Amount
$14,200,000
Vendor
MUNICIPAL FINANCE AUTHORITY OF BRITISH COLUMBIA
Agency
Town of Sidney, IN
Contract Type
FINANCIAL_SERVICES
Document Date
April 20, 2026
Contract Term
Up to 15 years (anticipated debenture term)
Renewal Date
2042-12-31
Renewal Info
One-time debenture issuance with an amortization period up to 15 years; no renewals anticipated but refinancing could occur through future security issuing bylaws if required.
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