https://www.sasktoday.ca/regina-today/regina-news/t-11977105
Regina council to weigh transit hike, library delays, pool debt
Transit fare hikes, library funding delays and new debt for an aquatic centre headline issues before Regina city council.
Central library project update
The Central Library Renewal Project (CLRP) could be facing years of delay.
In 2024, council approved between $92 million and $119 million in debt funding for Regina Public Library’s plan to construct a new central branch, as the current building requires constant repairs due to aging infrastructure.
A new motion suggests the city should continue approving a 5.5 per cent dedicated mill rate for the CLRP until enough funding has been accumulated or sufficient debt becomes available.
The city intends to prioritize debt for water, wastewater and transportation capital projects once additional room becomes available under Regina’s debt limit. That could push the CLRP to the back burner and increase total costs due to inflation.
Debt for aquatic facility
A dedicated mill rate for debt covering the Indoor Aquatic Facility (IAF) and Geothermal Heating Facility (GHF) has been proposed for the 2027 and 2028 budgets.
The city is recommending a dedicated mill rate of 1.61 per cent in 2027 and 0.30 per cent in 2028 to cover $155 million in long-term debt acquired this year.
“The pricing for the $155 million bullet debenture for 30 years is 4.7 per cent,” notes the report.
The indoor aquatic facility is scheduled to open in 2029.
In God‘s name, do they do with all that tax money? Where is it going and they want more absolutely insane