HomeMy WebLinkAboutLake Newell Resort Pathway Local Improvement Notice of Intention183037 RR145 (Box 130), Brooks, AB T1R 1B2 Check us out on social media
Phone: 403-362-3266
Fax: 888-361-7921
Email: administration@newellmail.ca
Web: www.countyofnewell.ab.ca
NOTICE OF INTENTION
TO CONSTRUCT A LOCAL IMPROVEMENT
IN THE COUNTY OF NEWELL
Pursuant to provisions of Section 396 of the Municipal Government Act, Statutes of Alberta, 2000, C hapter M-26 and
amendments thereto,Notice is hereby given that the Council of the County of Newell intends to undertake the
construction of the “Lake Newell Resort Pathway” as a local improvement. The Lake Newell Resort Pathway would be a
paved pathway that connects the Hamlet of Lake Newell Resort with the Kinbrook Connection Pathway. This proposal is
a direct result of a presentation submittedto Councilon July 20, 2023, by the Lake Newell Resort Community Association.
The estimated cost of the aforementioned local improvement is $1,000,000, of which amount the sum of $750,000 is to
be collected by special assessment as herein provided. The debenture will be repayable over a period of twenty (20) years
at a rate of interest not exceeding eight per centum (8%)per annum, or the interest rate as fixed from time to time by the
Province of Alberta. The combinedparcels subject to the local improvement will be charged an annual fixed sum rate of
$231.87 for each year of the said 20 year period. The estimated a nnual levy per parcel is $231.87.
The aforementioned rate may be subject to amendment at the time of the issuance of the debenture, or prior to or
immediately following the first levy for this project.
The location of the proposed local improvement is outlined on the attached map (Appendix A).
The ownersof land subject to local improvement levy may, at any point, opt to settle the outstanding balance. To do this,
the ownerwill needto pay the initial levy amount, along with any interestthat has added up over time, while subtracting
any payments that they have made against the total.
The owner may also, prior to the local improvement tax being levied on the tax roll prepaythe local improvement in the
amount of $2,777.78 per parcel with no penalty or interest costs applied. Additional information regarding the
prepayment option will be circulated once the project is complete and actual costs are known.
For additional information, please refer to the enclosed Frequently Asked Questions insert.
DATED at the County of Newell this 13day of September2023.