The Town of Holyrood has passed a record-breaking $4-million budget with no tax or fee increases.

Mayor Gary Goobie says his town has grown exponentially over the past few years with 400 new residents, an increase of 28 per cent.

Several commercial developments are in progress including: the 44-acre Blue Ocean Industrial Park and a 6,000 square foot professional building. Preparations are underway for a 22,000 square foot commercial building.

Mayor Goobie says the recently announced $26-million expansion to the Holyrood Marine Base is also set to begin in 2020.

Council will continue to provide a 20 per cent property tax discount to seniors receiving the GIS, and to households with a salary less than $20,000.

He notes the town is in a healthy financial position with an 11% debt ratio.