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HomeMy WebLinkAboutLake Newell Resort Pathway Local Improvement Plan Sept 2023 183037 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 COUNTY OF NEWELL LAKE NEWELL RESORT PATHWAY LOCAL IMPROVEMENT PLAN (As Per Sections 394 & 395 of the Municipal Government Act, Revised Statutes of Alberta, 2000, Chapter M-26) September 13, 2023 183037 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 LOCAL IMPROVEMENT DESCRIPTION & LOCATION The County of Newell is considering the development of a paved pathway that would establish a connection between the Hamlet of Lake Newell Resort and the Kinbrook Connection Pathway. This proposal is a direct result of a presentation submitted to Council on July 20th, 2023, by the Lake Newell Resort Community Association. During their presentation the Association emphasized the numerous advantages of this pathway for Lake Newell Resort residents. These advantages encompass enhanced safety for pedestrians and cyclists, improved community well-being, and the potential for stimulating economic growth. For a visual representation of the proposed pathway, please refer to the detailed map included as (Appendix A), which outlines the intended route and location. WHO WILL BE AFFECTED? The improvement will be levied against all the parcels of land located within the boundaries of the Hamlet of Lake Newell Resort and additional benefiting parcels. The registered owners of these parcels will be responsible for paying the improvement tax. This will affect 270 parcels which includes County owned municipal reserves and common properties held by condominium corporations. TAX RATE DETAILS The tax rate will be based on each parcel of land within the Hamlet of Lake Newell Resort and benefiting parcels The total estimated cost of the local improvement is $1,000,000, The capital cost of the local improvement will be funded as follows: ➢ $250,000 will be paid by the County of Newell through the Recreation Facility Improvement Funding Policy. ➢ $750,000 will be financed by the issuance of debentures through the Loans to Local Authorities Office over a twenty (20) year period. This debenture debt will in turn be repaid from revenue raised by the local improvement tax levied against all subject properties. For additional information, please refer to the enclosed “Frequently Asked Questions” insert.