Tbnewswatch Local News
2014-01-23 at 1:51PM

City could borrow $8 million for Golf Links Phase 2

By tbnewswatch.com

The City of Thunder Bay is looking at borrowing more than $8 million to complete the next phase of the four-laning of the Golf Links-Junot Avenue corridor.

The first phase, between Oliver Road and the Harbour Expressway, was completed last year at a cost of around $7 million. All of that money came from city reserve funds. 

Now, the city is looking at paying for Phase 2 between Oliver Road and John Street. 

The first option is borrowing $8.2 million through a debenture. 

The second option is a $5.2-million debenture, and taking $3 million from the Renew Thunder Bay reserve fund. 

City staff will recommend the first option at the city council meeting on Monday night. 

The four-laning project will be part of a larger discussion on the city's debt management strategy.

(Thunder Bay Television)

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