Pyramid Recreation Centre Cost To Taxpayers

At the August 22, 2005 council meeting the St Marys Association for Responsible Town Government presented following estimates for the Pyramid Recreation Centre

$ 1.4 million each year
of added expenditure to the ratepayers, made up of:

$ 1,000,000 per year net capital cost
- the capital cost will be about $ 1.2 million annually assuming a 5.5% interest rate and no cost overruns
- the Town will collect $ 200,000 per year in donations ($4 million in total donations over the 20 year term of the loan)

$ 400,000 per year operating deficit, based on the Goderich and Aylmer experience

$ 1.4 million represents a 20% tax increase as current tax revenues are about $ 6.9 million.

St Marys Association for Responsible Town Government

At the August 22, 2005 council meeting the following reasons were given for forming the St Marys Association for Responsible Town Government and what its role will be:

Council’s indifference to the petitions led to a group meeting and a decision to create a ratepayers association. The goal is monitor Council’s performance, review and comment on Council initiatives before they go forward and suggest action plans to Council. The perception the ratepayers have is that their concerns were largely ignored in the Pyramid Centre decision so the association will allow a powerful unified voice. The next council term is four years and as our review of the Municipal Act shows, Council receives a blank cheque book as soon as they are elected. The ratepayers association is an essential check on Council decision making.