The City’s borrowing is planned to rise from $340 million to $592 million by the end of 2027. How will the yearly payments of $36 million be covered?
$592 millionplanned outstanding external debt at the end of 2027, up from $340 million today, per the City’s own debt table
Debt is money the City borrows and pays back, with interest, from later budgets. The City’s own debt table shows what it owes now and what it plans to owe. The biggest new piece is the downtown event centre, a $200 million project that uses $135 million of new borrowing. The City says the payments will come from three sources: a special capital levy (an extra yearly charge on the property tax bill for roads and buildings), water fees and the hotel tax. The budget for 2027 was not adopted, so the next council will decide how to pay.
Found by reading the city's own documents · 5 sources