“The key benefits here consolidate town staff and council after over 40 years in various locations while improving efficiency, collaboration, and service delivery,” Vanhaelewyn stated. “This plan reduces operating costs as well as long-term capital expenses while keeping a central downtown location with opportunities for future expansion- all for about one-third of what it would cost for an entirely new town hall.”
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The staff looked into which parts of the CSC needed upgrades over the next ten years so they could include that work within this project. Renato Pullia, director of finance/treasurer said this initiative is expected to save approximately $1.4 million for the town. Additionally, they’ll recover the $76,000 per year spent renting space at Tillsonburg Town Centre Mall. Diving into expressions of interest during this project led staff to collaborate with four local design-build construction firms regarding renovation feasibility. “We want to reassure everyone that (this project) does not impact the (2026) levy,” Pullia added. “This process began back in 2016; it’s great that we’re finally getting there.” Councillor Peter Luciani expressed his approval regarding progress on this undertaking. This has not loaded yet; however your article goes on below. p > “It’s encouraging seeing this plan move forward quickly,” Luciani remarked. “It appears to be an excellent solution.. Kudos to everyone involved.” An estimated $3.23 million (56 percent) will come from debenture financing; $1.7 million from land sales; and $850 thousand from reserves set aside for upgrading Town Hall facilities. Further land sales over upcoming years could assist council in reducing their debt levels. “With today’s rate at around 4.48 percent on $3.237 million for thirty years – annual payments would total approximately $242 thousand or about $261 thousand at rates around four-point-four percent over twenty-five years,” states one report from Council.“The annual budget currently allocated covering corporate office needs- including rent utilities maintenance among others-is roughly estimated at around$337 thousand.” P >P >
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