Amend capital budget to reduce debt-financed projects in years with significant debt payments

Carried later in the Meeting (See Following Motion) Resolution # 827/25 Moved By Councillor Pickles Seconded By Councillor Cook That the main motion be amended by adding the following as a new Item 2 e. and that the recommendation be renumbered accordingly: 2 e. That Council direct staff to: As part of the 2026 and subsequent budget processes to adjust planned capital budget projects forecasts to reduce new capital projects that would require debt financing in budget years where significant debt would be utilized for the new Seaton Recreation Complex & Library (SRCL), and further that staff utilize these opportunities to advance capital projects that have been previously budget approved and require additional work to complete; i. That staff maximize efforts to seek and apply for grants and other appropriate financial assistance programs from Federal and Provincial levels of government and organizations, and other sources to be directed to new SRCL to reduce debt financing and property taxes as a result of the new SRCL and the City's overall capital project program and debt financing requirements; ii. That staff undertake a process to maximize the revenue for naming rights to the new SRCL to reduce debt financing and property taxes as a result of the new SRCL; iii. That staff undertake a property valuation for Don Beer Arena to assess its potential value for sale which will help offset the cost of the SRCL; iv. That the CAO & Director, Finance & Treasurer be directed to explore other revenue opportunities for this project; v. That the senior government representatives (MP & MPP) be advised that this project is deemed as job creation and economic stimulus and that the City requests confirmation of senior government funding by July 1, 2026 by one third each level; and, vi. That the external project manager be expressly directed to review and assist the ongoing proposed design and construction of the new SRCL to identify and realize efficiencies and cost savings in design and construction. vii. Special Council Meeting Minutes September 29, 2025