Hornby & Denman High Speed Internet Referendum – Vote!

There will be an assent vote in respect of the Hornby and Denman Islands high-speed internet initiative. Qualified electors of the proposed service area will be voting on the following question:

• Are you in favour of the CVRD adopting Denman and Hornby Islands High-Speed Internet Contribution Service Establishment Bylaw No. 672, 2021, Denman and Hornby Islands High-Speed Internet Loan Authorization Bylaw No. 673, 2021, and Denman and Hornby Islands High-Speed Internet Capital Contribution Agreement Authorization Bylaw No. 678 to authorize the following:
• establish and operate a service for providing capital financing for high-speed internet infrastructure;
• borrow $767,677 to be repaid over a maximum 10 year period to finance the development of the high-speed internet infrastructure; and
• enter into a 20 year agreement with City West Cable and Telephone Corp. to provide up to $760,000 capital financing for the development of the high-speed internet service infrastructure?

For more detailed information, follow the link: https://www.comoxvalleyrd.ca/projects-initiatives/past-current-projects/hornby-denman-high-speed-internet-referendum

Background

To assist with bringing high-speed internet access to Denman and Hornby Islands the Comox Valley Regional District (CVRD) is proposing to provide a financial contribution to build the “last mile” infrastructure necessary to connect homes and businesses within both communities. This proposal follows a number of important initiatives and grants, including:

• investigation and advocacy by the Denman/Hornby Internet Committee;
• the Connected Coast Project, a $45 million investment to install a subsea fibre-optic cable along coastal BC to connect to landing sites in rural and remote communities; and
• a provincial grant of up $5.6 million to City West, the telecommunications provider and subsidiary of the City of Prince Rupert that proposes to install and provide the high-speed internet service on Denman and Hornby Islands.

As a community contribution is required as part of the grant funding criteria the Comox Valley Regional District (CVRD) Board gave direction to pursue the development of a service and the necessary financial instruments to provide a capital contribution towards the development of high-speed internet service on Denman and Hornby Islands. The key aspects of this initiative include:

• establishing an eligible service to raise appropriate funds;
• enter into a capital contribution agreement with CityWest Cable & Telephone Inc. (a City of Prince Rupert owned telecommunications corporation that will install the infrastructure and provide internet services);
• borrowing up to 10 per cent of the community contribution amount for the high-speed internet infrastructure.

With the total project costs estimated at $7.6 million, the CVRD’s contribution is projected to be up to $760,000. With the 1 per cent Municipal Finance Authority debt issue expense this provides a total borrowing of $767,677.