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Penticton city council formally approved Tuesday the borrowing of $1.6 million for the revitalization of the 300 block of Main Street.
The project is expected to begin construction early March and is currently out to tender. The city is hoping to have the project mostly complete by the middle of June for the Peach City Beach Cruise.
The borrowed money will be repaid within five years, so the loan does not require electoral approval.
The rest of the $2.28 million project is being funded by $300,000 from property owners on the street and $350,000 from the city’s water utility.
More than 1,000 square metres of sidewalk, 630 metres of curb, 600 metres of electrical trenching, seven catch basins, two manholes and more will be installed, according to bid documents.
The city completed similar work on the 100 and 200 blocks on Main Street at the start of 2017.
