Can your city afford more land?

More to the point, can you the taxpayer afford to pay for your city buying more land?

That’s the question Brantford, Ontario taxpayers are asking themselves in the wake of the latest grandiose Brantford-Brant boundary adjustment proposal.  (What happen to keeping things simple?  Then again, this is the GRAND River Valley.)

As a Brantford taxpayer, can you afford your city paying about $13 Million (unfinalized by the councils and unapproved by the province) for 2454 hectares (6064 acres) of land?

For the answer, we need to look at the financial health of the City of Brantford.  In the latest available financial statements (Brantford.ca) from 2014, you see the following numbers:

  • total liabilities of $164 Million
  • of this, $38 Million is long term debt

There is no reference under liabilities to:

Can your city afford new land?

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the $18 Million debenture taken out to fund the clean up of 52 acres of the former Greenwich-Mohawk industrial site, or

 

Can your city afford more land?

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a debenture of $5 Million to clean up of 6 acres of the former Sydenham-Pearl industrial site.

Therefore, it is unclear whether or not the $23 Million in debentures is included in the city’s $164 Million in liabilities.  You may askwhy the financial fogginess?

So, there are debt and financial clarity issues here.

These are two examples of many of the City of Brantford’s CURRENTLY owned properties that are not developed to their full potential and/or paid in full.  Would it be easier on taxpayers wallets if such CURRENT city properties were developed and paid in full BEFORE the city proclaims it will buy more land?

 

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