The water and sewer budget calls for $2 billion in capital spending over the next ten years for pipes, pumps and other infrastructure including a new sewage treatment plant. Half that amount – over $1 billion – is scheduled to be used in the next three years, with most of it being borrowed.
Finance head Rob Rossini, said "“If our growth projections don’t materialize, or if they materialize slowly, there is significant risk to the existing ratepayer, and the impacts of funding that debt. Because once the project’s constructed, once the debt is issued, the bank wants its money.”
See C.A.T.C.H. converage here
"If our growth projections don’t materialize, or if they materialize slowly, there is significant risk to the existing ratepayer..."
ReplyDeleteHmmm.. considering the nonsense that happened with Maple Leaf, I think this pretty much translates into "we're screwed".
Can't wait for election next year, so we can send the yokels at city hall packing.
If this doesn't get people out to vote, nothing will. But blaming the Provincial government for council's own incompetence is the height of stupidity. That's Hamilton, get used to it.
ReplyDeleteWell, it seems that we have a lot of work to do to get the people engaged into the political process in this city if we ever hope to see real change.
ReplyDeleteThe city cannot even fix the infrasture to the old problems, never mind all this new stuff.
The Asylum is full!
Existing ratepayers are already in peril.
ReplyDeleteEver wonder what percentage of our taxes
is being spent to service existing debt?
The city should lead by example. We're
[tightening our belts] out here just to
stay afloat. We've given up on the idea
of getting ahead anytime soon. I'll be happy
is my basement doesn't flood next spring or summer.
Twelve hundred acres, thirty four hundred houses per year?
IT is utter madness! Where are these homeowners working?
Where will all the additional run-off go?
[It is time] to save, spend only when necessary and give
all you've got for what really matters. The debt driven
system must die and as a result we will turn to each
other for support. Credit clearing houses and new
more [innovative investment vehicles] will emerge.
We will come to realize that [survival depends]
on how well we managed to localize everything
down to [tendering all the transactions] we make.
Home is where the Heart is.
Yet another example of how Hamilton has long been abused by the Federal and Provincial governments. For more than a century, this city contributed large to the economy of this nation. Billions and billions of dollars left this city, to be invested in such profanity as AdScam, vote buying, or wasted on white elephants. And in our moment of need, we are pretty much ignored, except as a catch all for funding for half way houses and other projects no other city wants.
ReplyDeleteSewage and water is a very real problem in this city. It has long been relegated to the basement, abandoned and ingored for decades while our own Council continues to spend cash profusely on white elephants of its own. Of course, we also elect to act as sheep when the Province makes the demand that we "infill", and they run roughshod over those things that are within our own zoning requirements and the wants of the community.
I think the battle over the Airport is a losing affair, and not out of anything like a lack of users, or a lack of business that wants it - but rather, because the cabal of the Establishment that wants to plunk their long wanted white elephant of an airport in Pickering holds entirely too much power at Queens Park and Ottawa.
Perhaps the only way out of these continual problems is to separate from the Province. We have more population than most provinces, a bigger economy than most provinces - so perhaps we should just be our own province. Then we can get around to doing those things we really need to do, without being subjected to the decades of insults issued by Queens Park (and to a lesser extent, Ottawa). It's all about hard ball, and if being a municipality does not serve the people well - then perhaps we shoulds crap that whole thinng, and instead, concentrate on future success.
Adding additional sewers and water for new growth which in turn will be added to the existing taxpayers expenses is not necessary. It seems that one of the best kept secrets by the city is the Sanitary sewer that runs up to and through the Pleasantview subdivision in Dundas. There is also a water line that feeds all the residents. The wide open fields (about 400 acres)are just that. It has been proven that the soil in these fields is not farmable. So the question is why is the city wanting to spend money on new infrastucture and take away valuable farming lands in the aerotropolis when the answer is a 5-8 minute drive from downtown Hamilton. We can't have it both ways. Either pay the piper or let growth continue at where services presently exist.
ReplyDelete^^^
ReplyDeletePleasantview can not cater to those businesses that need or want access to the airport - and NIMBYism will take care of the rest. Of course, the new highway 6 project would actually allow for businesses that want highway access, but again, NIMBYism would settle in. It's simply easier to pave over Glanford township where there are less people to mount protests than say, in Dundas, which has more people, plus the crowd that is for converting all such land to the RBG, where they can fence it in so the citizens of this City can be prevented from enjoying it with the requisite miles of iron fences...
We are being backed into a corner from which
ReplyDeletethere is no escaping. At the rate things are
going I won't even be able to say NIMBY in a
few more years. Not [In My Back Yard implies]
little when you can't afford to own homes.
And we wonder why folks take short cuts
trying to keep them in best repair.
Our property [taxes could grow] by as much
as 6.4% next year. That's on average ab-
out $182 increase. I managed to save ex-
actly $259 since the beginning of this
year to use for Christmas spending.
Hypothetically after taxes, I am
left with 77 dollars for gifts.
Therefore I am allowed to keep
30% of my savings for personal
use. The walls are closing in
and I'll eventually be squeezed
out of my home like a ripened zit.
What more can be expected of me?
I've shredded the credit cards,
turned down the thermostat and
I walk to the grocer. What is
next? What am I saving for?
Please tell me, I want to
make sure I have ehough!
I'm not sure who all those
baggage handlers and flight
attendants will be servicing
at the aerotropolis but IT
sure ain't gonna be me. Not
when 70% of my savings which
is used for things like travel
and tourism and entertainment
is dissolved annually by an
inflationary debt driven system
ravaging the future of our children
and WE building IT into our golden years.
Where are the men and women with the golden pens
Inc's signature forgiveness and a means to an end
$77 now let me see what gifts I shall buy with all of thee...