1947 replies to this topic

[spanky123]

Unless the City of Victoria changed the information yesterday, here's their stance on the referendum amount:

 

If there is a referendum, the question that will be asked will be specific to the amount of money to be borrowed to fund the new recreation facility. That specific amount will be a result of what information can be gained about other funding options, in addition to the $10 million from the City’s Buildings and Infrastructure Reserve.

 

So now we have a dilemma. If the City of Victoria was banking on going to a referendum once it knew it had $40, $50 or $60 million secured through its own $10 million allocated towards the project, the $6 million from the gas tax, and grants from the province and the feds, but now we know both the province and the feds are not committing to any monies ahead of a referendum and not until mid-2019 at the earliest, just what does Helps ask the electorate if she has no idea what the actual funding gap is?

 

Does she ask for $20 million? Does she ask for $30 million?

 

What if the province and the feds see that $20 million and decrease their commitment by $5 million each? What if that $20 million, plus the existing $16 million, still yields a gap when the feds and the province collectively fund $20 million, leaving $14 million outstanding? We're in a real pickle here and the bridge situation appears to be repeating.

 

That is exactly why I believe that the plan to ask for a specific amount is new and impractical. 

[spanky123]

Also, what happens if they get 50 million and spend 40? Where does the 10 remaining go?

 

Public art!

[Jackerbie]

FWIW, Richmond's new pool and seniors centre is on budget at $80M. It's about 110,00 sq.ft., only has 25 m length pools.

[Mike K.]

In early 2017 the mayor stated on CFAX that if the (then planned fall 2017) referendum failed, she would close the pool.

 

I think we're going to see the City of Victoria push that narrative hard. Either support the project, or we close the facility.

[spanky123]

In early 2017 the mayor stated on CFAX that if the (then planned fall 2017) referendum failed, she would close the pool.

 

I think we're going to see the City of Victoria push that narrative hard. Either support the project, or we close the facility.

 

Yet they are not going to take sides!

 

She has staked too much and will not let it fail. The homeless angle just increases the pressure.

Edited by spanky123, 14 June 2018 - 08:03 AM.

[spanky123]

FWIW, Richmond's new pool and seniors centre is on budget at $80M. It's about 110,00 sq.ft., only has 25 m length pools.

 

The project was $79M plus a $3M contingency funded by Casino revenues and the capital reserve. the CoV thinks that it needs a $34M contingency on a $35M construction budget. Hmmm.

[Mike K.]

Where's the $35 million budget originating from? Have they identified $34 million as a contingency?

[Mike K.]

VV's poll: https://facebook.com...156420524724362

 

It's early still, but out of 80 responders the split is 64% against the borrowing.

[spanky123]

Where's the $35 million budget originating from? Have they identified $34 million as a contingency?

 

http://www.victoria....y 2016-2017.pdf

 

Page 54. 

 

Construction costs are $35M. There is $9M allocated for 'soft costs' which I put into contingency as the report doesn't identify what they are.

[Nparker]

...It's early still, but out of 80 responders the split is 64% against the borrowing.

I haven't responded to the FB poll yet but add my vote to the anti-borrowing side. After the JSB fiasco, the CoV cannot afford to be taking on additional debt like this.

[spanky123]

VV's poll: https://facebook.com...156420524724362

 

It's early still, but out of 80 responders the split is 64% against the borrowing.

 

Should blacklist City Hall IPs :-)

[Nparker]

Should blacklist City Hall IPs

Whose to say that all CoV employees are in favour of the CP expenditure?

[spanky123]

Whose to say that all CoV employees are in favour of the CP expenditure?

 

Hence my :-).

 

FB polls don't use IPs, they go by user account.

[spanky123]

If we look at the most recent financial update from the City and compare operating revenues and expenses on a comparable year over year basis we note that revenues are about $1.2M (5%) LOWER than last year and expenses are about $4.9M (15%) HIGHER. The delta is $6.1M and that is for one quarter! Now we don't know if that can be extrapolated and the City only shows an annual budget, but those advocating for the City to borrow or spend more money should at least be doing it from a position of insight.

 

https://pub-victoria...ocumentId=15686 page 38-39.

 

Interesting to note that about $2.7M of the increase in YoY spending is to the police department which Helps keeps saying hasn't seen a budget increase in years.

Edited by spanky123, 14 June 2018 - 08:57 AM.

[Bob Fugger]

Mark my words, the Crystal Pool will be to Helps what the JSB was to Fortin.

[lanforod]

Mark my words, the Crystal Pool will be to Helps what the JSB was to Fortin.

 

but not for 4.5 years?

[Nparker]

... the Crystal Pool will be to Helps what the JSB was to Fortin.

Let's hope it has the same effect at the polls in October then.

[spanky123]

Interesting that many of the people who comment that they support the pool oppose having Helps and crew oversee it

Edited by spanky123, 14 June 2018 - 05:30 PM.

[On the Level]

Where's the $35 million budget originating from? Have they identified $34 million as a contingency?

$35M is for the pool.....the $34M is for the Wellness Centre.  Integrated safe consumption centres of excellence aren't cheap ya know....

[Mike K.]

Ah, ok.