Town passes budget with 4.27% increase
Town Council has approved the tender for the reconstruction of Emily Street at a cost of $2,941,643 which is over the original estimate of $2.6 million. The project is subject to a cost sharing arrangement between the Town and the developer and although it is over the original estimate the developer has given the approval to proceed with the project. The breakdown for the reconstruction, which could begin as early as next month, will see the Town’s share as $1,502,821 and the developer, Thames Crest farms Ltd. will pay $1,179,000. As part of the Town’s share $732,693 will be used from Development Charge Reserves and $7,256.00 from Wastewater Reserves. The tender was awarded to Elgin Construction who was one of three companies to submit a bid.
The Town finally approved the budget for 2017 at this week’s Council meeting. Jim Brown, Treasurer for the Town, presented Council with the final numbers noting that the only change from the prior month was an update to the Library and Adult Learning budgets. The increase amounts to 4.27% which will mean an average increase to each household of $125 per year. The total budget is available for perusal on the Town of St. Marys. For a detailed summary of the totals for each department and the breakdown of the dollar amount for each department, please see page 7.