Tax Options - 1998-2000
The Strategic Policies and Priorities Committee submits, without recommendation, the following transmittal letter
(April 21, 1998) from the Budget Committee:
Recommendation:
The Budget Committee on April 20, 1998, recommended to the Strategic Policies and Priorities Committee, and Council,
that the City accept the $50 million grant and the $100 million loan offered by the Province, with the full amount of the
grant being applied in 1998.
Background:
The Chief Administrative Officer and Chief Financial Officer and Treasurer made a verbal presentation to the Budget
Committee on April 20, 1998 on the financial pressures that the City is facing over the next three years and identified a
number of options to deal with these pressures and consequential implications.