City Council is going to decide whether they want to borrow 8.2 million dollars to pay for the next phase of the four-laning of the Golf Links-Junot Avenue corridor. Staff are recommending the City pay for Phase 2 by borrowing just over 8 million dollars. Another option is to borrow 5.2 million dollars and use 3 million dollars from the Renew Thunder Bay reserve fund. Whatever method councillors decide on Monday, the spending will be up for final approval during the budget process.
Thursday, January 23, 2014
To Borrow More Or To Borrow Less
City Council is going to decide whether they want to borrow 8.2 million dollars to pay for the next phase of the four-laning of the Golf Links-Junot Avenue corridor. Staff are recommending the City pay for Phase 2 by borrowing just over 8 million dollars. Another option is to borrow 5.2 million dollars and use 3 million dollars from the Renew Thunder Bay reserve fund. Whatever method councillors decide on Monday, the spending will be up for final approval during the budget process.
