Reducing Municipal Debt

Randy Hope during Mayor's address to Chatham-Kent Chamber of Commerce. Photo by Simon Crouch

The municipality’s finances are in good shape.

That’s according to Chatham-Kent Mayor Randy Hope, who focused on the progress that the municipality has made reducing its debt in today’s mayor’s address to the Chatham-Kent Chamber of Commerce.

“Right now we are projecting it to be reduced by another 17% in the next few years, we’ve reduced it by 21% since 2010,” says Mayor Hope, who adds the municipal debt now sits at $128-million. “But then let’s take into consideration what might happen if we get future investment opportunities that come here and increase our tax base, you could see projections expedited even further.”

Hope says he was also looking forward to making an announcement about new manufacturing jobs in Chatham-Kent, but says he has to hold off for now.