Oakville Homes

November 30, 2010

Mattamy loans money for infrastructure. What’s the angle?


Read an interesting article on the James Snow Parkway, in Milton.  It used to known as the road to nowhere but, civilization has started to catch up with it.

Appears that a construction phase has been completed that “will provide an additional north-south link between Britannia and Derry that is expected to improve access both to and from Milton”.

What I found interesting was the following comment:

“Tim Dennis, director of Halton’s transportation services, reportedly stated that Mattamy Homes has constructed the project on behalf of the Region. Mattamy provided accelerated financing for the project that will be repaid by the Region”.

Here we have infrastructure construction being done and Mattamy financed it, with a repayment by the Region.  Sorry, but I thought “Development Fees” were to be used to construct infrastructure to accommodate growth.  The reason for the extension and construction is due to the developers in the area increasing the load factor on our present infrastructure.  Without their work, we would not need the infrastructure increase and, I don’t think we need to do it to attract developers.  They are around us like flies to ………

So, pray tell, why are we borrowing money from a developer to adjust our infrastructure to accommodate all the development the developers are causing?  Did they give us a good rate?  What are the conditions?  Did Mattamy get concessions of future considerations?  Just what is this costing the taxpayer?

Questions that should be asked and it appears they aren’t by our elected officials.  And, will the consumer get shafted like some have in the past when Mattamy has a problem.  Like illegal (code) wiring that puts children’s lives at risk.  So much for depending on our new council to look after the needs of the taxpayer.

What’s next?  Milton will be called “Mattamy Land”.  It would be appropriate considering the number of people taken for a ride on the “Gilgan Express”.  I even got the“Bully Boy ” thrill ride myself.
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