With so much work to do in the next five years, the City of Moose Jaw has put the wheels in motion to be able to borrow more money.  The infrastructure deficit has been talked about at City Hall for a number of years now but it has only been recently that steps have been taken to start addressing it.

Finance Director Brian Acker explained to council this week that there just isn't enough room on their current debt limit to do the work that has been planned.

"Our current debt is projected to be $25.2 million and our new debt that we anticipate over the next five year period, at the top end, will be about $122 million in debt that we would have."

Acker recommended that they apply for a $125 million debt limit, just in case some of their figures are incorrect.  He also said that there could be some federal or provincial funding to help with some of their capital projects so they might not need all of the $122 million either.

City administration said one alternative to increasing the debt limit was to re-evaluate their Capital Budget and cut back on some of the projects, an idea that Councillor Brian Swanson favoured who then compared running the city to any household in the community.

"I might say that I need a new furnace, I need new air conditioning, I gotta rewire my house and the plumbing is not good. All of those are really good things but I, as an individual, am limited by how much debt I can take on and survive and the city is no different. I would suggest that this level of debt would be a crushing blow to Moose Jaw."

City council ended up approving the motion to apply for a higher level of debt with Councillor Chris Warren suggesting that two many years were spent avoiding the infrastructure problems.

"Even though the number is daunting... look at where we are now, having to put a whole bunch of money these infrastructure assets that we have literally neglected due to wide range of reasons but maybe one was that we weren't prepared to spend the money."

 

More Local News

POLL: What should be done with the Natatorium?

With plans on replacing the Phyllis Dewar outdoor pool, the City of Moose Jaw will be decommissioning the Natatorium in the near future. The Depression Era building used to be the hub of the city as…

Meili stepping down as MLA

NDP Opposition leader Ryan Meili has announced Thursday that he will be stepping down as the MLA for Saskatoon Meewasin as of July 1. Meili, a native of Moose Jaw, was first elected to the Saskatoon…

[VIDEO] City holds Public Works open house

Residents got an up-close look at some of the heavy equipment the city uses during a Public Works open house on Wednesday at the City Complex. The open house is part of Public Works Week from May 15…

Fishing regulations, regions and reasons for 2022

A new fishing season has begun, and that means new regulations to help keep even the swiftest of currents protected from overfishing. As with every year, 2022 has some changes here and there…

Crescent Park playground temporarily closed

The Crescent Park Playground will be temporarily closed to allow contractors to replace the wood decking in the spray park and playground area. The project, which includes the installation of a…

DiscoverMooseJaw.com is Moose Jaw's only source for community news and information such as weather and classifieds.

Search the Biz Guide

Login