Belleville council will discuss increasing the length of time to repay debt taken out to pay for major infrastructure projects.
Currently, the city allows itself only a maximum of 15 years to pay off more expensive infrastructure although most of those assets’ useful lifespans are 25 years or longer.
In a report, staff says increasing the repayment period from 15 to a maximum 25 years would allow for more room in the operating budget and keep tax increases down from year to year.
However, considerably more money would be spent on interest charges over a longer term.
Council meets this afternoon at 4 o’clock.
