Money Matters on the Agenda for Council
Monday, June 11, 2012 @ 5:57 AM
Prince George, B.C.- There will be plenty of dollar discussions this evening when Prince George City Council holds its regular meeting.
Prince George Exhibition and Historical Association will be calling on the City of Prince George to forgive the balance of a loan made to the PGX two years ago.
You may recall, the PGX was facing a deficit because of a lawsuit, and appeared before the Council of the day to ask for a loan. While Council discussed a variety of ways the PGX could increase its income, it ultimately agreed to loan the Exhibition $45 thousand dollars. The PGX has repaid $9 thousand dollars so far, leaving $36 thousand still on the books.
The full budget for this year’s 100th Anniversary Celebration of the Exhibition will be presented, and the budget is about $250 thousand more than has been spent in past years but the revenue has increased. Grants from Heritage Canada, the Regional District of Fraser Fort George, and the Northern Development Initiatives Trust, are covering off the difference.
Other financial issues on the agenda this evening:
- Council remuneration and expenses (see previous story) report will be received. The report shows Councillor Cameron Stolz racked up more expenses ($11,212.94) than anyone else on Council in 2011, a full $2,533.60 more than he spent in expenses in 2010.
- Council will be asked to approve borrowing from the Municipal Finance Authority $11,317,000 for the construction of the new RCMP Building. The amount was already authorized under a General Loan Authorization bylaw approved in 2007. The loan term would be over 20 years, with the first payment to come in 2013 at an annual rate just shy of $890 thousand dollars.
And council will be asked to approve awarding the tender for the sewer extension for Boundary Road to Colmar Construction Limited for a price just under $1.55 million dollars.
Comments
Boundry Road is another example of a huge waste of taxpayers money, for no return. This is another day dream, that will see existing business in the various industrial sites around Prince George relocating to this new one at Boundry Road.
Little or no new business coming to town.
One should keep in mind that the City had the approval to borrow the $11.7 plus probably some other approvals, for the Police Building, however they havent as yet borrowed the money, and therfore it doesnt yet show as debt on the City books. So when we say we have $100 Million in debt, we probably have more like $120 Million.
Have a nice day.
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