Building for Tomorrow
The Town of Okotoks is taking the next important step toward securing a sustainable water future for our growing community.
The Foothills Okotoks Regional Water Project (FORWP) is one of the most significant infrastructure investments in Okotoks’ history. This regional water line will ensure that clean, reliable water is available for residents and businesses—now and into the future. Learn more about the Project.
To support project progress and align with updated timelines, the Town brought forward Amending Bylaw 14-25 to increase its borrowing authority, which received first reading at the Regular Council Meeting on April 14, 2025. This will allow the Town to continue advancing construction and maintain the momentum necessary to meet long-term water needs.
The borrowing will be repaid entirely through off-site developer levies, with no impact on local property taxes or utility rates.
Staying Ahead of the Curve
The increase in borrowing ensures the Town can enter contracts aligned with updated cash flow projections and procurement schedules. While developer contributions were expected to support a portion of the project, evolving timelines and growth forecasts mean borrowing is now required earlier than anticipated.
Borrowed funds will only be accessed when needed and will be repaid over a period of up to 25 years, with interest rates not exceeding 8%, as set by the Government of Alberta.
The Town remains well within its provincial debt limits and continues to make strategic, forward-looking investments in essential infrastructure.