I am totally ignorant here, so hopefully somebody can help me out.
I am not sure of my calculations (the TD mortgage calculator wouldn’t allow more than 7M) but at 3% over 25 years I think it would cost around $1.2M per year to build the combined buildings.
I caught a news story that said that according to some poll northerners were upset at the cost of municipal finances/taxation. (I was in the car at the time so can’t vouch for the details.)
I think Rupertites would agree with that poll. So how can we afford a 12% increase for however many years it would take to pay off that loan. I am assuming that the 12% increase will remain for several years. This is not a one year emergency where our taxes can be reduced the following year. We need to find an extra million every year for 25 years.
In the case of the police station it looks like we have no option as the article says that the RCMP could go ahead and build a new building and the city would be billed.
How do other small communities deal with this issue. It seems ridiculous in a time of declining population and high unemployment that a city would be expected to shell out this amount of money.
I am not suggesting that we vote no. If we are to have proper police and fire services then upgrading seems prudent. It’s just shocking to me that something as important as police and fire are not federal or provincial issues where poorer communities are not underserviced or put into financial distress because upgrades in those services are required.