Blake Ellis/The Independent

It turns out the cost to complete asset retirement obligation estimates on its five municipally-owned buildings is much less than the Oil Springs council expected.

The study will determine the cost of abatement of designated substances, such as asbestos, lead, silica and mercury, during decommissioning and demolition at the end of each building’s life. This will better reflect each building’s total liability.

A request was made at the Aug. 4 council meeting by the village’s financial auditor MNP to have the estimates completed by the next 2027 financial audit.

Council tabled the matter, fearing it would cost too much.

Since then, Oil Springs Clerk-Treasurer Jennifer Anderson received a quote that would allow the study to be completed
for $6,100.

“Actually that came in a lot better than I thought it would be,” said Mayor Ian Veen at the Sept. 1 council meeting.

Council has originally thought the price would be $23,000.

Public Works Superintendent Chris DenBoer indicated the money needed could be found within the public works budget as a couple of jobs this year had been completed under budget.

Veen said even if this wasn’t the case, the money could be taken out of the municipality’s reserves.

Municipalities are required to keep records of all asbestos containing materials in public buildings. They also have to set aside money to repair the buildings.