Taylor establishing reserve funds for future capital projects

TAYLOR, B.C. — The District of Taylor is establishing two new reserve funds after it received $1,095,000 through the province’s Growing Communities Fund.

In March, the province announced that all 188 municipalities and regional districts would receive a portion of a one-time grant of over $1 billion.

During Taylor’s regular council meeting on Monday, the Growing Communities Reserve Fund Establishment Bylaw and the General Capital Reserve Fund Establishment Bylaw received their first three readings.

According to the district, establishing the Growing Communities Reserve Fund is a condition of the funding, and the General Capital Reserve was proposed to create a separate reserve for future capital purposes.

The fund was announced by Premier David Eby in February and is meant to provide B.C. communities with a one-time fund to go towards infrastructure projects. 

The money can be put towards projects like road improvements, parks and recreational additions, childcare facilities, and natural hazard mitigation.

Fort St. John received $5,724,000 through the Growing Communities Fund and, in April, transferred the money to be used in future projects.

The bylaws can be viewed below: