Kamloops Centre for the Arts Update

Committee of the Whole received clarifying information regarding the Kamloops Centre for the Arts project. Over the past 18 months, the project team has focused on validating the design to ensure alignment with community needs and financial planning.
The approved funding strategy remains unchanged and will not result in additional taxation. That strategy involves funding secured through long-term debt borrowing via the alternative approval process in 2024, supplemented by capital prioritization of existing funds, operating budgets, reserves, and a community fundraising campaign.

The estimated building cost is $150.5 million, which is consistent with projections identified in the alternative approval process. Additional enhancements—such as an extra level in the parkade and certain soft costs—were incorporated into the project without impacting the funding strategy or requiring additional taxation.

Groundbreaking for the Kamloops Centre for the Arts is taking place on Wednesday, November 26.