Borrowing would create annual debt-servicing costs that would need to be incorporated into the District's financial plan.
Before the October 2026 election, the District provided illustrative estimates to help voters understand the potential financial implications of borrowing between $2 million and $5 million over 20 years, using an assumed interest rate of 4%.
The following table preserves those pre-election estimates for reference.
| Potential borrowing |
Estimated annual debt servicing |
Approximate municipal tax increase |
Approximate annual impact for an average residential property |
| $2 million |
$147,164 |
1.02% |
$20.41 |
| $3 million |
$220,745 |
1.53% |
$30.62 |
| $4 million |
$294,327 |
2.04% |
$40.82 |
| $5 million |
$367,909 |
2.55% |
$51.03 |
Under the maximum borrowing illustration of $5 million, the estimated annual debt-servicing cost was approximately $367,909. This was equivalent to an estimated 2.55% increase in municipal property taxes, or approximately $4.25 per month ($51.03 annually) for an average residential property.
These are historical estimates prepared for the 2026 plebiscite, not an approved tax increase or current borrowing plan.
The estimates reflect debt servicing only. They do not include potential facility operations, maintenance, renewal or other lifecycle costs, which have not been determined.
Actual financial implications would depend on several factors, including the amount and timing of any future borrowing, interest rates, repayment terms, grants or partner contributions, changes to the municipal tax base and other Council financial decisions.
The estimated percentage increases refer to the municipal portion of property taxes, not the total property-tax bill, which also includes amounts collected for other taxing authorities. Impacts on individual properties would vary based on assessed value and property classification.
If a borrowing proposal advances, updated financial information would be prepared and presented publicly before Council considers borrowing or seeks any required statutory approval.