The haste with which the City of Victoria is rushing along with its confused plan to demolish and replace the Johnson Street Bridge is unseemly and alarming.
The latest development is Victoria City Council’s decision made last Thursday to endorse a huge borrowing of $63,000,000 to pay for the unnecessary demo and replacement of this significant Joseph Strauss-designed heritage bascule bridge without so much as a by-your-leave from taxpayers in the form of a proper referendum-election on the historic fate of the rusting bridge.
That seems somewhat sneaky and frankly premature at this point, as they don’t have any real committments from the two senior levels of government to help them pay for the other 2/3 of the total anticipated costs.
The feds and province were expected to cough up a total of $42,000,000, but there is no indication that they are interested, both governments now running serious deficits.
Amoritized over a period of about thirty years, this loan could well end up costing City taxpayers double that amount.
Coincidentally, $63,000,000 is the exact amount that the City will end up paying for the Save on Foods Memorial Centre (otherwise known as the ‘new arena’) after all loan payments are finally made for that monstrosity over the 30 year amortization period. And you thought that was only a $28,000,000 loan, as former Mayor Alan Lowe always falsely maintained? This former correct figure comes from the Victoria City Hall itself.
Councillor Geoff Young (the economist) was quoted in a Friday, July 11, 2009 page A4 article by Bill Cleverley in the monopoly daily Times Colonist newspaper expressing concern that Victoria voters not jump to the hasty conclusion that only Victoria taxpayers will be left paying the whole shot.
He says they would likely have to go back to their second preferred option in the not-so-unlikely event that the feds and province continue to balk at helping the City out of this mess.
Voters could be forgiven for thinking that if the City gets its hands on that handy $63,000,000, they will very likely be sorely tempted to go right ahead and do it all themselves, and damn the consequences. Call it ‘Plan B.’
That is what many of us in the CCC are worried about, and that is one of the many compelling reasons why this thing should be stopped in its tracks.
Rather than wasting millions on this unnecessary project, they should as priority No. 1 attend to the more pressing social housing, detoxing and rehabilitation needs of the poorest of the poor homeless citizens on our streets.
Fix up and safeguard the existing landmark bridge for posterity. That can’t possibly cost anywhere near $63,000,000.
Please read and sign our new petition against the demo and replacement of Johnson Street Bridge here:
SAVE JOHNSON STREET BRIDGE
http://www.thepetitionsite.com/1/save-johnson-street-bridge
- Gregory Paul Michael Hartnell, President
Concerned Citizens’ Coalition
CCC
[For a live link to the Bill Cleverley article in the Victoria Times Colonist on Victoria City Council's plan to borrow a whopping $63,000,000 to demolish and replace the Johnson Street Bridge, please refer to the comments section below.]
2 responses so far ↓
goyodelarosa // July 13, 2009 at 12:11 am |
Here is Bill Cleverley’s article in the T-C about the $63,000,000 loan:
http://www.timescolonist.com/City+seeks+borrowing+slash+interest+rates/1777058/story.html
goyodelarosa // July 13, 2009 at 10:26 pm |
Details in the Bill Cleverley article seem to contradict this news story from CFAX Radio News:
http://www.cfax1070.com/newsstory.php?newsId=9742