We could find out on Monday if semi-pro basketball is coming to Waterloo.

A committee-of-the-whole will be asked to ratify terms of a loan deal with the Canadian Basketball League to allow for a team to be formed and flooring to be installed at the Waterloo Rec. Complex.

Waterloo Chronicle sports reporter Adam Jackson told 570 News the proposed loan includes a $100,000 “project loan” and more than $385,000 to install new rink-boards at the Waterloo Rec. Complex.

“The city will obviously have something in return when they get those rink boards. I believe the replacement is just to make them easier to remove,” said Jackson.

The man behind the club is former Toronto Raptors head coach Butch Carter.

“From talking to Butch, he has an interesting outlook for this league,” Jackson said. “He wants to set it up more like an OHL or like a Euro league where it’s focused on development, getting these guys to the next level.”

Jackson says Carter is looking to draw players from university ranks:

“He wants to have a lot of Canadian guys on the team, maybe some CIS talent that has the ability to get to the next level, maybe some guys from the NCAA level in the U.S.”

If the franchise is eventually approved, the season would begin in December and end in April.