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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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