Some questions about new RCMP detachment
Your form for elector response on the new police facility was delivered to my door, even though I live in Duncan city.
I do not know if you consider responses from Duncan. However, I have questions and comments that I would like to pass on.
What is the rate of interest required for this loan of $48 million? How much will have been paid at the end of 20 years? Which bank is lending? Is it a local credit union? The Bank of Canada, a Crown corporation, initially existed to fund infrastructure to get the country back on its feet after the depression. (We have another dire situation after COVID.) Prime Minister Diefenbaker’s central bank monetary policy was directed towards increasing the money supply to generate low interest rates. In July 2017 the bank increased the benchmark rate to 0.75 per cent. (Wikipedia)
This is the rate municipalities should be demanding for such buildings.
I also heard that if North Cowichan does not fund the loan, the police will borrow from their own sources and charge North Cowichan, at a much higher price. This sounds like blackmail!
There is a quote from Field of Dreams which says “build and he will come.” Let’s hope this does not apply to an increase in criminal traffic to warrant the new facility!