The re-payment of the loan for the second arena at Kal Tire Place begins this year.
Residents in Vernon, Coldstream and electoral areas B and C will see an increase in the parks portion of the property taxes, according to RDNO Chair Bob Fleming.
“They do it on an average assessment, so I think they chose up to a $400,000 property, and it was $24 dollars. I think it was in that range.”
RDNO has decided to fund 75% of the full year debt payments totalling over $660-thosuand dollars this year.
“We start paying in the second quarter of the year on the loan, so we’re taking three-quarters of the amount of principle and interest for 2017.”