This from a mayor who uses medium coffees at Timmie’s to measure tax increases.
Mayor Keith Hobbs worked out his property taxes and estimated that he would have to cut out about six medium coffees per month. . – Tbnewswatch March 04, 2013
The mayor is correct. The people who run the City of Thunder Bay are totally irresponsible. Have been for decades.
If the City of Thunder Bay is so well run, then why is it necessary for the City of Thunder Bay to borrow money to renew, replace and maintain municipal infrastructure?
Even with Tbaytel giving the city more than $175 million since 2002? That is over $175 million more than any other city in Ontario gets for free…yet it is not enough?
Then there is the tens of millions of dollars provided by the Province of Ontario for all sorts of things such as…giving to consultants.
And for all that money that was simply given to our city, what exactly do we have to show for it? What exactly? Not a lot.
Nope. The cost of administering/running this city is way too high. Those costs such as wages and benefits of management and bargaining unit employees eats up a an extremely large portion of the annual city budget.
Throw in the cost of supporting those employees and there is not much money left for infrastructure. So its either raise taxes to a high enough level pay for infrastructure renewal or use credit.
Credit spreads the cost out over time but adds significantly to that overall cost. Borrowing $8 million can end up costing the taxpayers an additional $4 million in services costs over 20 years. Imagine what a debt of $100 million costs? $200 million?
Some say that is the cost of doing business. I believe it is the cost of having gutless city councils that are more interested in getting re-elected and not what is best for the city.