Moose Jaw is not applying to the same government support program it did last year for suburban development.
The city is applying for almost $3.69 million in an interest-free loan from the Saskatchewan Infrastructure Growth Initiative (SIGI), as part of last year's series of projects approved through the program.
Through SIGI, the provincial government provides payments to municipalities to offset interest charges associated with local government borrowing.
Moose Jaw will use its share of the loan applied for last year to develop the Westheath Subdivision, a 95-lot area on South Hill to be prepared in three distinct phases.
If the city took out a conventional loan of the same amount, it would have to make interest payments of over $579,000 on a five-year loan at a six per cent interest rate.
Although there is another local suburb development with the West Park project, City Manager Garry McKay said that development will be completed through a private company, which will fund the project itself. Therefore, West Park doesn't quality for SIGI.
For more read Monday's edition of the Times Herald
