The Town of Pincher Creek will contribute an estimated $413,700.36 (34.2%) of the total cost. "The net amount realized by the internal financing issued under this Bylaw shall be applied only for the purpose for which the indebtedness was created." The $1,210,152.90 estimated project cost will be drawn from the Town of Pincher Creek reserve fund. Six lots and a total of 495 metres of frontage will be affected by the bylaw, and each lot owner will be responsible for $1,705.47 per frontage metre of the total cost. The total yearly assessment for property owners is $45.84 per metre for an annual total of $64,899.27 until the end of the 20 year term.
According to the proposed bylaw:
"Subsequent to Town Council's approval of the Local Improvement Plan, the Town must send a notice and a summary of the information included in the local improvement plan to the persons who will be liable to pay the local improvement tax."
"If a petition objecting to the local improvement is filed with the chief administrative officer (CAO) within 30 days from the notices' being sent and the CAO declares the petition to be sufficient, theCouncil must not proceed with the local improvement (Municipal Government Act Section 396(1))."