The project, which falls under a private-public partnership (PPP) agreement, was approved at a Nov. 20 council meeting. The contract is for a 20-year term.
Under the agreement, PPP Canada has committed up to $11 million to the project, and the city is in negotiations to secure full funding of 25 per cent of the final construction costs. The balance will be debt financed by the city and the contractor.
“This is a significant step forward in this vital project for our community,” Sudbury Mayor Marianne Matichuk said in a news release. “I’m pleased that we can move forward to finalize an agreement that will allow us to maximize the benefits to taxpayers. There is still work to be done before a deal is completed, and I look forward to a future update from staff.”
The city has been using tailings ponds in Lively for more than 30 years as a disposal site for waste-activated sludge from its wastewater treatment facilities. But changing environmental standards and a recurring foul odour required the city to find an alternative solution.
It is anticipated the agreement will be finalized in January.