Who benefits from this? Not us.
What we don’t know and the council won’t tell.
Does the PPU make economic sense for the North and South sectors? What is the total incremental projected revenue from the PPU. What is the net revenue after the agglomeration take their piece and after all services are accounted for including major infrastructure costs. This includes roads, lighting, sewers, drinking water, facilities, security, recreation, etc.
Who will pay for what: town, province, developer, tax payer? Lots of questions but no answers from the Mayor and council.
Will the council share the town’s balance sheets and income statements year by year for the next 5 years? Will the town budget be balanced, or a surplus, or a deficit. If there is a breakeven point in which year will it occur? Will our municipal taxes increase or decrease, by what percentage? Obviously we would like to see these numbers prepared and/or verified and validated by professional external auditors to ensure accuracy and objectivity.
The project calls for removal of green spaces and introduction of both residential single dwellings as well as less expensive housing – condos and townhouses. Given the huge investment we have in our homes and the potential risks/uncertainty you can imagine our concerns. Will the value of our homes decrease or increase as a result? Again, has any analysis been done? What will be the projected average % increase or decrease.
Biologists and environmentalists without any stake in this PPU have confirmed that the loss of natural spaces, which confer a significantly heightened market value, and the increased congestion on Chemin Ste-Marie at the south ends of Industrial and Meloche will discourage resales in the North sector – this could mean significant devaluation of our properties. This is a major concern for citizens but it still hasn’t been addressed by any financial analysis that we are aware of.
Again, who will pay for all of this? We don’t want budget deficits. We don’t want increased municipal taxes. We don’t want decreased property values.
As David Fletcher said on May 28th the dollar investment that we have in our homes is far greater than the investment made by the developer. Let’s protect that investment.