Guelph-Eramosa council briefs
Guelph-Eramosa council approved an application for a $4-million loan and supported a consent application on Oct. 17.
Debt
Council approved a bylaw requesting Wellington County issue a debenture for $4.05 million on behalf Guelph-Eramosa to fund capital projects.
During 2016 budget discussions it was decided long-term debt would fund the Mill Road reconstruction, the Mill Road bridge repair and the Alma Street pre-treatment plant and trunk sewer upgrades.
“It allows us the option of taking advantage of [Wellington County’s] good credit rating,” Cheyne said. “We’ve taken a look at the rate Infrastructure Ontario offered and county rates are very good.”
Going through the county also allows the township to do a 10-year “balloon” payment for the Alma Street pretreatment plant.
“We’ll pay off a certain amount of principle but at the end of 10 years we can pay off all of that debt or if we have to we can refinance,” she explained.
“So in the long run it will save us money in debenture costs and interest costs.”
Councilor Corey Woods said the township is in a “catch 22” when it comes to the pretreatment plant “they can’t build the new houses until the pretreatment is built and we need the money from those houses to build the plant.”
Paying off the debenture for the wastewater project will come from residential growth and is exclusively user paid.
The interests rates will not be known until the debenture is actually issued.
Consent application
Council has passed a resolution supporting the severance of a 115-hectare agricultural parcel into three smaller parcels at 5552 4th Line and 5591 3rd Line.
The three smaller parcels will be approximately 39, 40 and 36 hectares each. All of the proposed lots meet the 35-hectare minimum agricultural lot size in the Wellington County Official Plan.
Council has also endorsed the application to sever an existing surplus dwelling on one of the proposed parcels.
“The intent of the consent is to re-establish original lot lines and continue using the lands for agricultural purposes,” township planning consultant Mitchell Avis wrote in his report to council.
Road closure
Council approved the closing of the unopened road allowance on Division Street, from 250 Alma Street to Inkerman Street, in Rockwood.
Councillor Mark Bouwmeester was absent from last week’s meeting.
