In response to drought conditions experienced in our area in the fall of 2016, the Province amended the MGA to allow municipalities the power to lend money for new wells and cisterns.

The Municipality of Argyle offers a Water Supply Lending Program to our residents.

Below is the information regarding the program. If you have any questions or would like to set up an appointment to apply for this program please call (902) 648-2311.

Water Supply Lending Program

What is it?

The Water Supply Lending Program is a municipally funded program that allows residents to borrow money from the Municipality to construct a new dug or drilled well or upgrade an existing well that is required to source water.

  • Maximum lending per residential property of $15,000
  • Repayable over a maximum period of 10 years
  • Repayable at a fixed interest rate of 3.5%

Who is Eligible?

The owner of a qualifying property who is not in default of any municipal taxes, rates or charges. A qualifying property is an owner-occupied residential property within the Municipality of Argyle.

Seasonal homes, multi-unit residential properties, non-profit-owned buildings, businesses and industrials premises are not eligible.

How does it work?

The owner must fill out an application form and provide a quote for the work. Following the approval of their application, the owner must agree to the terms of a lending agreement and provide pre-authorized payment information. Once finalized, the owner can proceed with the upgrade and provide the final invoice for payment by the Municipality.

Water Supply Lending Program