Capital Spending Discussion Planned

Sarnia City Council will hold a special meeting to discuss impacts on capital spending as a result of refinancing SSEC loans in a short time period. Councillor Mike Kelch presented a motion asking city staff to look at the feasibility of refinancing loans over five years, instead of the recommended 15, without impacting the levy. Finance Director Lisa Armstrong says to do so, about $800,000 will have to come out of capital spending each year over the five years. She says they've already identified four capital areas that could be reduced and will be put in writing for council's consideration. "Shoreline protection, a reduction of $250,000; the rehabilitation of bridges, a decrease of $250,000; rural roads rehabilitation, a decrease of $250,000; and fire equipment transfers, a decrease of $60,000. So those items would have to be removed from the budget for five years in a row." In a recorded vote, Councillors Mike Kelch, Anne-Marie Gillis, Dave Boushy, Andy Bruziewicz, and Mayor Mike Bradley voted in favour of the motion. Councillor Kelch noted he wouldn't want to stop council's debt-reduction goal by 20203, unless the alternative options were unacceptable to him.