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Hydro Update – March 2005

The two major issues remain as the main obstacles in procuring electrical power from BC Hydro.

  1. The cost of the power line extension from Joffrey Creek is estimated at $400,000 of which Hydro is willing to pick up only about $60,000.  This means that LLE will have to add that $340,000 to the cost of distribution which is estimated at $1,000,000.  This is extremely high and may not be affordable by many lot owners.  An effort is ongoing to convince Hydro to assume most of the cost of the power line.

  2. The cost of distributing the power throughout the subdivision is approximately $1,000,000 that works out to about $6600 per lot.  We are currently discussing the amortization of this cost over 20 or 25 years with the Squamish Lillooet Regional District.  They have the ability to borrow the money from the Municipal Finance Authority at close to prime rate plus an administration fee.  The yearly fees would be collected as an improvement tax.  This would bring the yearly cost to between $400-$500 annually.  This is considered the best option for financing the project.

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