Three Buoys Development Corporation got a nod from the Columbia Shuswap Regional District board last week.
Directors at the Sept. 20 meeting in Salmon Arm agreed unanimously to provide a letter endorsing Three Buoys vision of the Mara Lake College as a project that will revitalize the Three Buoys property in the District of Sicamous.
CSRD economic development officer Robyn Cyr told the directors that Todd Millar of Three Buoys had presented the vision for the college at a May 3 economic development committee meeting and that the corporation will be looking for further investment, developing a marketing research plan, rezoning existing property and seeking local government support for the project.
“Several concerns were raised at the committee meeting about the financial viability of the project generally,” wrote Cyr in a report to the board. “After considerable discussion, it was decided that the committee would recommend to the board that a letter be issued endorsing the project at the early conceptual stage.”
The Shuswap Economic Development Committee has recognized that Sicamous needs economic development projects that, if successful, would provide employment on a year-round basis, something the college would do.
Cyr explained that despite “a few bumps in the summer,” the project is still moving forward and that the corporation has invested $14 million in the property already.