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IQALUIT
A city-wide referendum to allow the City of Iqaluit to borrow up to $40 million to build a new aquatic centre will be on the ballot with the city's municipal election in October.

Pictured is conceptual artwork for an aquatic centre the City of Iqaluit hopes to build, which would require permission from city ratepayers to borrow up to $40 million. - photo courtesy of the City of Iqaluit

The aquatic centre would be host to a six-lane swimming pool, leisure pool, whirlpool, sauna, exercise room, training/party room, elders' area, space for retail, a food and beverage kiosk and, arguably the piece-de-resistance: a waterslide. All good things come with a cost, however, and the aquatic centre is by no means cheap.

The up to $40 million the city intends to borrow would cover the entire project, according to Amy Elgersma, director of recreation for the city. The cost is estimated at $40.6 million, and the city already has $4 million set aside that it has been saving for the project.

"It (the price) includes the engineering design, construction, all of the other costs such as site development … it also includes furnishings and fixtures," she said.

The price also includes debt financing costs, and the city is hoping the territorial and federal governments will pitch in on the project. The best-case scenario is a three-way even split of costs, but even that would result in property tax increases of 1.14 per cent per year for seven years, according to Elgersma. The worst case, if all costs fall to the city, involves tax increases of 3.88 per cent per year for four years, and then an average of 0.95 per cent per year for next three years.

Elgersma said the city may not have to borrow the full $40 million, and through a community fundraising initiative called Reach, the goal is to raise an additional $3 million through fundraising events, corporate sponsorships and donations. As well, the centre will bring in its on revenue through things like user rates – comparable to those at the current swimming pool – and space that could be leased out, and places to put advertising.

The project isn't just a major upgrade to what's available right now in the city, however; it's a safeguard against having no indoor swimming facility at all.

"The current pool is leased from a private company," said Elgersma. "The current lease for the pool expires March 31, 2013, and we have not yet been able to renew that, so we're still working on that."

If the city is able to renew the lease – which costs $250,000 a year – there's no telling how long that might last, she said. There have been repeated technical issues with the facility and "if we do run into a major problem, there's a chance it could not be able to exist."

It was built in the 1970s and can only hold 35 people at a time, compared to the proposed centre's estimated capacity of 250. Iqaluit's population, according to the 2011 census, is 6,699.

A previous 2005 referendum on this project narrowly lost, by 17 votes. The city considers itself in much better shape this time around, to make residents feel more comfortable with the project.

The referendum announcement came at a city council meeting on Aug. 29, followed by a press release the next day – the first steps in an information campaign the city plans to wage leading up to the referendum.

"There's been lots of work in business planning as well to ensure that we can afford the project and we can afford the operating costs," said Elgersma.

In the press release, Mayor Madeleine Redfern said community members have been involved in the planning of the facility and she's heard support for the project.

"There is a lot of excitement around a new aquatic centre and the benefits it will provide to our community. People are really looking forward to seeing the project move ahead," said Redfern.

Elgersma said some kids were spoken to during the consultations, and – no surprise – they were pumped up by the idea of a waterslide, which she thinks will be a big draw for kids and youth in the eight-to-16 age range.

"The waterslide is going to be great," said Elgersma. "The kids are really excited. It will be a fairly high waterslide and it will have some loops within the slide itself."

The choice comes down to whether property owners in the city are keen on seeing their tax rates rise to pay for the centre, and how comfortable they are seeing their city incur such debt. Due to territorial legislation, the only eligible voters in the referendum are ratepayers – those who own property on which they pay the city taxes, "although everyone who rents from a landlord other than social housing, within the economy, they would likely be affected," said Elgersma. In the actual election for mayor and council, all residents of Iqaluit and Apex 21 years of age and older are eligible to cast a ballot.

The election and referendum are set for Oct. 15.

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