but the handwriting is on the wall.
On the speculated cost of the new police station, the city has opted for a 30 year repayment plan. Extended time means extra interest paid. The most telling comment was given by corporate services manager Marlys Bilanski when she stated that the extra spending "will put pressure on our credit rating." A reduced credit rating means increased interest rates.
Chief Weighill has learned the art of political flim flam well. His comments that a growing city combined with higher construction cost caused the $41 million increase. He forgot to mention the addition of a 130,000 square feet.
New councillor Donauer has learned quickly how to wield the rubber stamp and serve up platitudes. Hmmm. Sticker stock?
And Gramdpa Glen put a calm over the whole project by saying he doesn't believe the construction cost will be that much.
And then the questions was called based on a hope and a prayer.
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This is so beyond rationale thinking that I don't know where to start. This council has no idea about money management. They are going to leave Saskatoon on the hook for so much debt that our ability to build projects down the road is now going to be jeopardized.
ReplyDeleteWe are now spreading debt out over 30 years? This should be a big concern for younger folk in the city. With increased population comes larger demand for services and amenities. The city is now taking liberties with our future by recklessly spending money now.
So not only are we over budget by 45% they are now moving to LEEDS certification. Has anyone looked at the payback on that feature. If it takes 20-25% more cost just for that I am sorry but I don't love the world that much that I need my money wasted on an unproven energy model. The mayor just indicated on John Gormley Live that they expect the number to be below that. OOps that's what they said back in 2006 about the 90 million.
ReplyDeleteIt was a nice try at building a stawman from LEED and Warehouse District Architectural controls by Councillor Heidt - but most of the added cost of the building stem from it's special design specifications like "progressive collapse design" (which ensures if a vehicle rams into the building, only a small section would be in danger of collapsing).
ReplyDeleteYes LEED has an upfront cost (it isn't 20%, more like 5-10%), but ends up saving money over the lifespan of the building. The new Eastend Firestation or the UofS law building are great examples of LEED done right.
"unproven"? prove it!
This is what happens when infrastructure is neglected for years.... and we dont put money in for prevention and determinants of health upstream. Now we need freezers and evidence rooms/buildings.
ReplyDeleteWhat is the province kicking in? Their share?
ReplyDelete