Title
GROWTH MANAGEMENT UPDATE
Mayor J. Lehman left the Chair at 7:49 p.m. and Acting Mayor B. Ainsworth assumed the Chair.
AMENDMENT #1
Moved by: Mayor J. Lehman
Seconded by: Councillor, L. Strachan
That motion 14-G-080 of Section "F" of the General Committee Report dated March 31, 2014 concerning the Growth Management Update be amended by adding the following paragraph:
"2. That the Growth Management team evaluate proposed strategies to reduce the use of debt to fund work associated with existing assets in the preferred scenario identified in the Fiscal Impact Analysis prepared by Watson & Associates, including but not limited to the following strategies:
a) Increasing the amount and timing of contributions to the capital plan from the operating budget;
b) Reinvesting savings from debt retirements into annual asset management spending;
c) Contributing up to 50% of PowerStream dividends to the capital plan;
d) The use of Infrastructure Ontario construction financing to defer debt and reduce interest rates in the short term;
e) Including a prudent forecast of Federal and Provincial infrastructure grants under the new Building Canada program and related programs; and
f) Examining 25 and 30 year scenarios for replacement and management of existing assets, to allow for a ramp-up of funding and more projects to be "pay-as-you-go"
and provide preliminary comments regarding the effectiveness of these strategies as part of the report to General Committee scheduled for May 6, 2014 regarding the Secondary Plan and Fiscal Impact Analysis ."
Yes: 10 Mayor J. Lehman; Councillor B. Ainsworth; Councillor L. Strachan; Councillor D. Shipley; Councillor B. Ward; Councillor P. Silveira; Councillor M. Prowse; Councillor J. Brassard. Councillor A. Khan and Councillor B. Jackson
No: 1 Councillor A. Nuttall
Upon the question of adoption of the original motion, moved by Councillor, B. Ainsworth and seconded by Councillor, A. Nuttall, the motion wa...
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