The city of prince rupert needs to get a loan from the mfa know while its at one half percent the risk waiting until later when interest rates go up.The pac is paid for the civic is paid plus the pool so lets bite the bullet and get this done because in the end the govt is just going to give us the bill anyways,we are damed if we do and damed if we dont.
Or, you know, sell Citywest to pay for it. While Citywest is still worth selling.
does mfa stand for mafia???
Anyone know what Citywest is worth or better said, what it could fetch in dollars?
better yet the swimming pool is costing the city about $ 700,000 more money then it generates, lets shut the friggin pool down and save all that money
Yup… should definitely close facilities when the city is sitting on a depreciating asset that could be sold and provide the money needed to do many of the repairs/upgrades to infrastructure instead of adding to the cities bills and forcing yet another tax hike. Great policy. You must be on council.
Ok, let’s shut it all down then, the library, the firehall, the golfcourse, the museum…
[quote=“Moresby”]
Ok, let’s shut it all down then, the library, the firehall, the golfcourse, the museum…[/quote]
And we could all get quads and we could lay off all the city workers because we can let the roads completely go.
Shut down citywest and start using smoke signals again.
Make sure we do everything in our power to make sure no person ever wants to move here.
(sarcasm intended)
I would question not only what Citywest is worth but what residual value there is to the tax payer after the debt is paid.
Dollars to donuts the corporate debt equals what you can sell it for…
[quote=“chookie”]
Ok, let’s shut it all down then, the library, the firehall, the golfcourse, the museum…
And we could all get quads and we could lay off all the city workers because we can let the roads completely go.
Shut down citywest and start using smoke signals again.
Make sure we do everything in our power to make sure no person ever wants to move here.
(sarcasm intended)[/quote]
Absolutely! The we’d no longer have to worry about potholes or snow removal!
Anyone know where we can get infor on the value of Citywest and what kind of revenue is coming in from them. Without that information, we can’t even have a proper debate.
I’d say if we are making any profit from them, keep them around. As much as everyone complains about them, at least they have an office that you can walk into to talk to someone. Once Rogers or Shaw takes them over, the building would be empty, and we would have to wait on hold for an hour to talk to someone in India.
I don’t see a point in selling an investment just because we can’t budget our income properly.
[quote=“Politically Incorrect”]
I don’t see a point in selling an investment just because we can’t budget our income properly.[/quote]
The reason is simple. At some point (if it hasnt already happened) citywest will turn from an asset to a liability and wont be worth anything to any of the big boys.They will wait until it goes bust and pick it up for pennies on the dollar for scrap. Don’t believe me? well look at what happened to the mill. Citytel was fine IMO because it provided a service to the community that otherwise wouldnt have been there. When they decided to incorporate and purchase a cable company in other communities pitting them against the likes of telus, rogers, and shaw they crossed a line.
The city of prince rupert has no right to lay the taxpayers money on the line to compete in other jurisdictions in one of the most competitive industries on the planet especially without asking them first. Publish citywests financial standing, have a referendum on the issue and let the people decide if they want to sell it and fix their crumbling infrastructure or keep it.
Watch the City’s budget deliberations here: princerupert.ca/page.php?id_ … _section=6
Perhaps consider submitting your suggestions, questions, or concerns. I’m sure they’d love to have your input.