Anonymous has left a new comment on your post "That is not what I said":
Evelyn, didn't the town borrow money from the hydro fund to finance their garage? If so, would your idea have to wait until the money is put back?
Posted by Anonymous to Our Town and Its Business at 28 September 2014 15:27
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The finance plan was put forward to show how that facility could be financed .
Part is proposed to be financed by debentures
Part with proceeds from sale of lands owned by the town with $6 million spent making it ready for sale and development.
Part from development charge revenues which come in as new homes are built.
Debenture debt is a perfectly acceptable way to pay for a facility that will serve the towns needs long beyond the term if the debt.
It means the people using the facility pay for the facility.
Pretty much like a house mortgage. While paying the mortgage, the house provides shelter for the family.Money costs money.
Whether buying or renting, there's a cost.
It infuriates me to be told it is my obligation to pay higher taxes now to save future residents from having to pay what it costs to maintain facilities needed to maintain public service.they enjoy.
The idea is a canyon width from the basic principle of fairness in taxation.
The hydro reserve is intact.
We fought off the crazy heritage theme park.
We were saved from the satellite university boondoggle.
A number if other significant extravagances were cancelled.
We are engaged in an election.
It is your turn to make your intentions clear.
Sunday, 28 September 2014
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8 comments:
You are getting disingenuous questions again.
They usually being with your name. All nice & friendly-like.
I believe all the details about the financing are available on many locations. The Hydro Fund which used to be called the Reserve Fund is still intact. Which might be why there are so many whack-o ideas floating around amongst the new candidates and some of the current ones.
One of the supermarkets used to bus Auroran seniors to the plaza where they were located. Now that is left to family, neighbours & community groups. We seem to be moving backwards.
There is an item in all of this that is being ignored.
INFLATION.
According to the Bank of Canada inflation calculator please look at the following numbers:
$100.00 in 2009 would require $109.60 today.
$100.00 in 2004 would require $119.94 today.
$100.00 in 1999 would require $134.73 today.
So the money pot is depreciating and will buy less tomorrow than it would today.
Is anyone thinking about this?
19:12 - Sure they are. They use this depreciating reasoning every time they want to get council to make a decision quickly in regards to spending money.
8:17
But we still managed to escape the Heritage park, the s-e designation and the university hub to mention just a few close shaves.
8:35- The park scheme failed because they couldn't get any "partners" to jump on the money making band wagon, because of course there was no money to be made. The s-e designation failed because there were enough sane people that went to the council chamber and said the majority of us don't want it. And the university hub was a no go because the university chose someone else (what a surprise that was). The garage made it through! They decided that they needed it, and needed it now, and used the depreciation scenario to not put it on the back burner.
08:35, probably only one of those is a dead issue.
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