The building on Highway 3 was previously owned by the Princeton and District Chamber of Commerce. Spotlight file photo

Town leases building to Metis Association for $825 per year

Plans in the works to create cultural centre

The Town of Princeton has entered into a five year agreement with the Vermilion Fork Metis Association (VMFA) to lease the former Princeton Chamber of Commerce building on Highway 3.

At a recent meeting council agreed to the terms of the lease, which includes a five year extension option.

The VMFA will pay the town $825 per year for use of the property.

Earlier this summer the town and the Regional District of Okanagan Similkameen partnered to buy the building from the chamber, for $300,000.

It was necessary for the municipality to internally borrow $150,000 from a reserve fund.

Related: Princeton and RDOS partner to buy chamber building on Highway 3

The annual rent is equal to the interest that must be paid to the reserve.

In a July interview, Ed Vermette, one of the founders of the association, said the goal is to create a cultural centre “that would be a model for other communities in B.C.”

The VFMA, established in 2018, has more than 100 members.

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