Ward 6 candidate Robert Kirwan says he wants to put the city's surplus into infrastructure projects instead of leaving it in the bank.
“At any given time during the past two years, the City of Greater Sudbury has had anywhere from $75 to $200 million of excess cash resources available for investing,” said Kirwan, in a release.
“This money apparently comes from funds held in reserves, reserve funds, trust funds, the capital fund and as a result of excess cash receipts over disbursements at any given time of the year.
“With a minimum of $75 million available at any given time during the past two years, and given that this investment has earned an average of less than three percent, it seems as if city council might be wise to consider investing the funds into local infrastructure in order to solve a few of the major challenges facing us today.”
If the money was invested in the Maley Dr. extension, the Barry Downe Rd. to Hanmer extension and the Laurentian University access road, we would experience the greatest growth spurt the region has ever seen, he said.
Kirwan can be reached at 524-7006, [email protected] or www.kirwan.ca.