Summerside, Wednesday April 25, 2017: The City of Summerside has a golden opportunity to pay down some of its debt, the President of the Greater Summerside Chamber of Commerce says.
“Our Executive read the Journal Pioneer’s coverage of Council’s discussion on what to do with their $280,000 ‘windfall’, “ said Dan Kutcher. “But we were dismayed to hear that some of the discussion touched on spending the money and borrowing even more.”
When Council presented its budget this year, they were all quick to point out what a difficult project it had been because needs exceeded funding. “But that’s the reality of a budget”, said Kutcher. “That’s what businesses face every day. And the bottom line is carrying debt adds to the problem.”
The Chamber is hopeful that the City will dedicate some – if not all – of the $280,000 to paying off its current debt.
“We are all carrying this debt,” said Kutcher. “Every resident and business in Summerside is not only paying for the City to provide current services but the cost of debt from past spending. We must live within our means.”