The present agreement grants the Town operating budget 1 million 144 thousand dollars plus 126 thousand dollars in taxes for the New Britannia property per year. That will now be increased to just over 1 million 338 thousand dollars for this year and will increase 2 percent each year until 2023. Hudbay will also pay the Town 750 thousand dollars each year until 2023 for their capital budget. The New Britannia Mine will now be included in the grant in lieu but other properties inside the Town boundaries including the Lalor Camp will be on the tax roll.
Mayor Peter Roberts states with the capital funds the Town now has at its disposal it will be easier to lever more money for further infrastructure projects through agreements with the Provincial and Federal governments.