Paying Debt Over Six YearsMay 22, 2014 9:59am
The Downtown Windsor Business Improvement Area will see a small reprieve on debt repayments after all.
Instead of paying the full $253,000 all at once, Windsor Council is allowing the BIA to pay the streetscaping debt over six years.
Councillor Fulvio Valentinis says this will give them the opportunity to keep some of their programming in place. “Had they had to repay the full $253,000, you’re talking cutting staff, cutting programming. So now they’re going to be able to show that here’s 1/6 of that amount for this year and this is the rest of our budget.”
The adjusted budget will be submitted to council for final approval.