Stimulus Money, baby: that pot of gold in the skies of Ottawa that will produce jobs, economic boom and at no local cost. But let's look more closely.
* Community/ Recreation Centre..........$27.4 million
* D'Arcy St reconstruction......................$2.5 million
* Kerr St reconstruction..........................$2.5 million
* contribution agreement for Intake 1 (Unknown number of projects)........estimated $10 million
The projects were approved by Council on Monday night to proceed to the next stage in Ottawa. A lot of financial pain for taxpayers. As a conservative estimate the above costs would be $40plus million. the municipal cost of these federal "stimulus monies" would be at least $13.2 million. As these projects cannot be in the capital budget for the next two years to qualify they have not been budgeted for. We either drop the most necessary capital projects that we budgeted for or add them to the list. Adding them to the list would be an additional tax burden.
Now in this story our friends at the Y intend, as they are entitled to do because non-profits are allowed to submit applications, to submit an application for a new facility. In a story written by Valerie MacDonald of the
NT.com here it is revealed that they will sell the two properties they own on Elgin St frontage and apply for the rest of the money from Ottawa/Toronto. But those properties will only net half the money needed for the Y's contribution so we are into another massive community fundraiser. Lots of luck in a depression trying to raise money. Mr Barber obviously is an optimist (better be a Rotarian and a Lions Club member too!) but then all good leaders are.
I asked the Town, specifically Mr Davey the money guy, for the costs of the applications approved on Monday night but they have not yet been forthcoming, I am sure they will and when they do we will all know just how much exactly Gil Brocanier will have to pull out of his magic hat to make all this possible without a tax increase. Ironic isn't it, one of the reasons we were named 22nd best place to live yesterday was a good tax regime. Wonder how far down the list we will be next year?
Oh I forgot to mention that on Monday night the Council authorised the local utility company LUSI to make long term financing arrangements rates to replenish the water/sewage reserve fund that had been allowed to "go negative". Funnily enough we had raised rates, in 2006 to "full life-cycle" costing rates to establish the reserve. Last year the reserve was projected to be in surplus but turned negative. Council authorised the debenture/loan without an explanation and only one councillor attempted to find out why the fund had tanked. Mr Craig of LUSI was not at Council and Council just passed the rate increase without comment.
So the taxpayer really got hosed on Monday
enough water jokes - ed.