Road Projects and Funding Outline

Monday, March 20, 2006 08:41 PM

In looking at the capital projects for 2006, there are several road reconstructions planned, but Councilor Deborah Munoz wanted to know if Council could borrow more. Mayor Kinsley noted the City's debt capacity is pegged at $224 million, and he estimated the City is carrying about $100 million, although that figure may not be accurate.

The accurate amounts (as provided by the Finance department) say the debt capacity is $254 million, and the City is at $151.4 million of which $60 million is the Terasen deal which is being paid by a third party.

Mayor Kinsley reminded Councilor Munoz that while the City could borrow more money to repair the roads, "Every $500 thousand dollars borrowed, adds about 1% to taxes.

The Road Projects that are on the top of the capital projects plan are as follows:

Project	Cost	Source of Funding
Foothills Blvd from N. Nechako road to the Blueberry Road rights-of-way ( asphalt overlay)	$288,000	Debenture
Foothills from 5th to 15th (asphalt overlay)	$397,000	Debenture
Foothills 1st to 5th (asphalt overlay)	$344,000	Debenture
St. Anne reconstruct from Southridge to St. Donminic	$225,000	Terasen Reserve
River Road reconstruct from Foley Crescent 750 m west	$375,000	Debenture
Blackburn Rd reconstruction from Km1 to km 1.7	$315,000	Terasen Reserve
Dagg Road Reconstruction from E-Austin to Rundstrom	$272,000	Debenture
Birchwood Road Reconstruction from Highway 97 to Birchwood Cres	$250,000	Debenture
Western Road from Highway 16 to Corral Road	$102,000 10,000	Debenture Terasen Res
Haldi Rd Reconstruction from Wlater Rd to Leslie Rd.	$274,000	Debenture

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Posted on Monday, March 20, 2006 08:41 PM in News by Ben Meisner

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Comments

Posted by: Chadermando on March 20 2006 11:03 PM

Foothills work should be the priority IMO.

Posted by: YamaDooPolCat on March 21 2006 7:26 AM

"..but Councilor Deborah Munoz wanted to know if Council could borrow more." We are starting to see a pattern of this kind of imperial behavior from Deb. Reminds me of her earlier observation that the increase in fuel prices means taxes must go up. Deb didn't consider the taxpayer may have less to give her already after paying for their own fuel bill as well.

Posted by: diplomat on March 21 2006 7:28 AM

Neither 20th Avenue nor Victoria Street and 1st Avenue are mentioned which may indicate that these are a provincial responsibility ?

Is Colin K. in earnest communication with the three local Liberal MLAs?

West Austin Road, Croft Road, Cook Crescent and South Kelly Road to Highland Drive are in various stages of disintegration - one may assume that hundreds of temporary patches will be added to the suspension rattling quiltwork of lumpy patches during this year, if we are lucky!

I say "temporary" because most of them don't last longer than a week or two.

Posted by: Percy on March 21 2006 8:29 PM

IMO the basic necessities in a community should be provided before we entertain spending money on things that are not considered a necessity.

And the last thing we need to do is to increase the amount of debt (burden) on the taxpayers of this community. Percy

Posted by: owl on March 22 2006 10:18 AM

"Mayor Kinsley reminded Councilor Munoz .... 'Every $500 thousand dollars borrowed, adds about 1% to taxes.'"

So let me see. If I pay $2,000 in property taxes to the City, then 1% of that is $20.

So, if the City pays off $500,000, then my tax bill for next year should be $20 less.

Bear with me one more time. It appears that discounting the Terasen Deal, we are borrowing $91,400,000. Based on a rate of $20 per $500,000, that would mean that if the $91,400,000 is paid off, I should get a rebate of $1,656 per year.

Such a deal ........

I think the Mayor should check his figures if his statement is accurately repaorted.

Maybe he lost a zero someplace, or he is dreaming of his next trip and his mind was not on City business ....

;-)

Posted by: diplomat on March 22 2006 7:31 PM

There are so many potholes that I am close to throwing in the towel! They are everywhere!

http://www.city.pg.bc.ca/city_services/transportation/potholereport.cfm

Perhaps if every person would take a few minutes to report the real suspension busters closest to their residence we could make some impact on City Hall?