Foothills County has approved borrowing to pay for a water treatment plant being built at Aldersyde.
The plant being built between Highway 2 and Highway 2A, south of Okotoks, has an estimated cost of $40 million, which includes the treatment plant, related pipelines and a pumping station.
With $15 million coming from County reserves, the remaining $25 million will be financed through a loan or debenture, council decided during its meeting on Nov. 15.
Reeve Delilah Miller said the project is part of a long-term strategy to attract businesses and diversify the tax base to benefit residential ratepayers.
The water treatment plant will primarily serve future industrial and commercial development along Highway 2A near Aldersyde, as well as within the Foothills Crossing Area Structure Plan lands that are east of High River.
“We feel that this is an investment,” Miller said. “We do already have some large industries that are looking into tying into this water line (and) that certainly will help pay for it.”
Once completed, the treatment plant will also service some nearby homes, she said.
Reginald Hammond, deputy director of corporate services, told council the County is well below its debt ceiling, and that there will be an update about the County’s debt load during Foothills County’s budget meeting on Nov. 29.
Coun. Rob Siewert said the only problem is the plant is not already built.
“I think this corridor would look quite a bit different today if this water system was built 10 years ago,” Siewert said.
