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The total cost of the project is now anticipated to cost approximately $94,000,000. The federal and provincial governments originally agreed to pay about 90% of the original estimated project cost of $83,500,000, the remaining 10% of the project cost is contributed by the M.D. and Town of Bonnyville.
The provincial government has decided that it will only contribute 50% of the cost overruns on the project to a maximum of $5,153,512. There is no additional federal funding for the additional costs.
As a result the federal and provincial governments will pick up about 86.74%, with the remaining 13.26% to be picked up by the municipalities, split between the Town (80%) and M.D. (20%).
The project cost contributions are now broken down as follows:
Federal & Provincial Grants
Federal Government for Cold Lake First Nations
$3,234,161
Provincial Government for Frog Lake First Nations
$7,494,896
Provincial Water For Life Grant
$38,013,116
Federal - Canada Water/Wastewater Fund
$32,434,200
Total Grant Amount
$81,176,373 (86.74%)
Municipal Contributions
Municipal District of Bonnyville
$2,456,859 (2.63%)
Town of Bonnyville
$9,951,519 (10.63%)
Grand Total
$
93,584,751
( Regional Waterline - MD of Bonnyville )