Collingwood staff recommend tax increases to fund capital projects
Collingwood staff is recommending tax increases in order to fund capital projects over the next several years.
Treasurer Marjory Leonard presented the five-year capital plan at the July 9 Strategic Initiatives Committee meeting.
She recommended an annual one per cent tax increase to fund $309,000 in capital projects.
The plan also calls for a one per cent levy to fund the Waterfront Master Plan.
The town has several large projects it will have to pay for over the next several years, including repairing the terminals ($8 million) and the waterfront plan ($15.4 million).
Leonard said by 2022, water and wastewater reserves will be overdrawn by more than $13 million.
The report was received by council.