A motion to look at the feasibility of giving the Mary Webb Centre an interest-free loan of $250,000 in bridge financing has stirred up some debate among members of Chatham-Kent Council.
During Monday night's council meeting Councillor David VanDamme motioned for administration to return in March with a report regarding the proposed interest-free loan.
The report would specify details such as economic viability and repayment structure -- which would be over the next five years if approved.
Some councillors like East Kent Councillor Steve Pinsonneault were supportive of the motion saying the theatre is popular and does create an economic spin-off.
"I see this as a very worth while project," he says.
However, not everyone supported the idea of giving out a loan.
"We're not a bank," says Councillor Derek Robertson. "But it appears we may be planning to hang the bank of Chatham-Kent sign up first thing tomorrow morning."
Robertson says he previously requested for a policy to be made in order to address these types of requests -- specifically, after CK Council approved a $300,000 interest-free loan in January 2016 to complete the Senior’s Activity Centre on Marlborough St. in Blenheim.
"The one time when we did conduct a bridge financing I asked for a policy on the matter," he says. "We haven't received that policy."
After much debate, VanDamme's motion for a report passed 12-5.
"[I] don't know why we're going ahead with this now, but apparently the message here today is 'Chatham-Kent has free money, come and ask for it,'" says Robertson.
Administration will be coming back to council March 20 with a report regarding the Mary Webb Centre.
As for creating a policy, Pinsonneault agrees it's something that's needed moving forward.
"It makes it easier when one of these circumstances comes along and you go by the pattern you already set in writing so that it takes all the pressure away from council," says Pinsonneault.
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