The city has released what it will receive in benefits if the LNG terminal proposed by Exxon/Imperial Oil goes through on Lot 444 in Tuck Inlet.
-$18 million over 2 years, paid by Exxon/Imperial Oil to the city for investigative study. $1 Million has already been paid ($7 Million due 30 days after re-zoning vote in December, $10 Million due in Oct 2015). There is also an option for the proponents to go beyond the 2 year period of investigation under the same financial terms (ie: @ $9 Million per year).
-1,000 to 6,000 construction jobs
-300 permanent full-time jobs, 50-150 spin-off contract jobs
-$66 million annually in property tax
-Purchase payment or lease pmts will result in “hundreds of millions paid to the city”.
[quote=“bthedog”]The city has released what it will receive in benefits if the LNG terminal proposed by Exxon/Imperial Oil goes through on Lot 444 in Tuck Inlet.
-$18 million over 2 years, paid by Exxon/Imperial Oil to the city for investigative study. $1 Million has already been paid
-1,000 to 6,000 construction jobs
-50 to 150 full-time permanent jobs
-$66 million annually in property tax
-Purchase payment or lease pmts will result in “hundreds of millions paid to the city”.
Fantastic! There’s obviously a terrific benefit to the city in even the exploratory stages. Makes me wonder if this would have had much of an impact on the election if it were released sooner. Thank you to staff and our outgoing Council for your efforts in including Lot444 into our boundaries and in your part in this project.
[quote=“bthedog”]The city has released what it will receive in benefits if the LNG terminal proposed by Exxon/Imperial Oil goes through on Lot 444 in Tuck Inlet.
-$18 million over 2 years, paid by Exxon/Imperial Oil to the city for investigative study. $1 Million has already been paid
-1,000 to 6,000 construction jobs
-50 to 150 full-time permanent jobs
-$66 million annually in property tax
-Purchase payment or lease pmts will result in “hundreds of millions paid to the city”.
Fantastic! There’s obviously a terrific benefit to the city in even the exploratory stages. Makes me wonder if this would have had much of an impact on the election if it were released sooner. Thank you to staff and our outgoing Council for your efforts in including Lot444 into our boundaries and in your part in this project.[/quote]
Northcoast review had the wrong info in reagrds to jobs…the terminal would employ 300 full-time workers and 50-150 would be in spinoff/contracted jobs.
I agree - this has the potential to completely pay off the City’s infrastructure deficit of 250 million in 3-4 years after operation…even sooner if you factor in the $9 Million per year the city will get for the investigative period, or the hundres of million it would get for selling/or leasing the land to Exxon/Imperial.
I hope everyone on council votes to rezone…the rezone vote will net the city $7 Million right off the bat…and will mean another $10 Million in 11 months time.
The worst we can do is $8 Million in revenue if nothing else goes through and Exxon/Imperial decide before next October to no go through with their proposal.
If they do go through…Rupert will have been delivered from ever having to worry about revenue and citizens/businesses will likely see a DRASTIC drop in their property taxes.
[quote=“bthedog”]The city has released what it will receive in benefits if the LNG terminal proposed by Exxon/Imperial Oil goes through on Lot 444 in Tuck Inlet.
-$18 million over 2 years, paid by Exxon/Imperial Oil to the city for investigative study. $1 Million has already been paid
-1,000 to 6,000 construction jobs
-50 to 150 full-time permanent jobs
-$66 million annually in property tax
-Purchase payment or lease pmts will result in “hundreds of millions paid to the city”.
Fantastic! There’s obviously a terrific benefit to the city in even the exploratory stages. Makes me wonder if this would have had much of an impact on the election if it were released sooner. Thank you to staff and our outgoing Council for your efforts in including Lot444 into our boundaries and in your part in this project.[/quote]
I agree - why they did NOT release this information sooner is totally baffling…it could have saved Jack’s job, since he and past council deserve high praise for getting this deal worked out.
What looked horrible and shrouded in secrecy before, could actually be something that saves this city from ruin.
[quote=“bthedog”]The city has released what it will receive in benefits if the LNG terminal proposed by Exxon/Imperial Oil goes through on Lot 444 in Tuck Inlet.
-$18 million over 2 years, paid by Exxon/Imperial Oil to the city for investigative study. $1 Million has already been paid
-1,000 to 6,000 construction jobs
-50 to 150 full-time permanent jobs
-$66 million annually in property tax
-Purchase payment or lease pmts will result in “hundreds of millions paid to the city”.
Fantastic! There’s obviously a terrific benefit to the city in even the exploratory stages. Makes me wonder if this would have had much of an impact on the election if it were released sooner. Thank you to staff and our outgoing Council for your efforts in including Lot444 into our boundaries and in your part in this project.[/quote]
Wonderful news! Is there any way the new mayor and council can drop the ball on this? That’s my immediate concern.
Fantastic! There’s obviously a terrific benefit to the city in even the exploratory stages. Makes me wonder if this would have had much of an impact on the election if it were released sooner. Thank you to staff and our outgoing Council for your efforts in including Lot444 into our boundaries and in your part in this project.
Northcoast review had the wrong info in reagrds to jobs…the terminal would employ 300 full-time workers and 50-150 would be in spinoff/contracted jobs.
I agree - this has the potential to completely pay off the City’s infrastructure deficit of 250 million in 3-4 years after operation…even sooner if you factor in the $9 Million per year the city will get for the investigative period, or the hundres of million it would get for selling/or leasing the land to Exxon/Imperial.
I hope everyone on council votes to rezone…the rezone vote will net the city $7 Million right off the bat…and will mean another $10 Million in 11 months time.
The worst we can do is $8 Million in revenue if nothing else goes through and Exxon/Imperial decide before next October to no go through with their proposal.
If they do go through…Rupert will have been delivered from ever having to worry about revenue and citizens/businesses will likely see a DRASTIC drop in their property taxes.[/quote]
Thanks for pointing out the missing info, have added a clarification on that note of the potential for up to 300 jobs during the operational aspect, though the City describing it as the development phase is a tad confusing. Did miss it though, so it’s been addressed.
As for the project itself, there are still a number of issues to review before anyone starts expecting property values to go crazy again.
As Dr. Faggetter otulined, her review was but on two aspects, there are many other items to be reviewed.
As mentioned (in the blog item), the transit of LNG vessels across the entire length of the harbour to the east end of the city will probably be of concern to someone.
That being said, it should make for an interesting project to follow in the months ahead.
Fantastic! There’s obviously a terrific benefit to the city in even the exploratory stages. Makes me wonder if this would have had much of an impact on the election if it were released sooner. Thank you to staff and our outgoing Council for your efforts in including Lot444 into our boundaries and in your part in this project.
Wonderful news! Is there any way the new mayor and council can drop the ball on this? That’s my immediate concern.[/quote]
To be honest, I best all of them vote to approve re-zoning…I mean HOW can they NOT? It is a vote that secures a total of $7 million in extra revenue, and would also assure another $10 million…for a city with a $30-40 Million annual budget…how could any new councilor or mayor ever vote no on this?
