Ignoring costs to keep taxes artificially low isn't sound fiscal management, it is misdirection and illusion. While we all like to entertain ourselves with a magic show, we know better than to be fooled.
The budget adjustments this term regarding the Westhills Aquatic Centre are a prime example of changing how Langford does business. I don't think anyone on Council wanted to spend millions buying a facility that most people thought the city already owned. We would have much rather used those funds to expand our recreation network and build new community spaces. But it makes absolutely no sense to build new centers when bad, pre-existing contracts, mean you cant even keep your current ones open.
The city was locked into an agreement that guaranteed private profits entirely at the taxpayers' expense.
By stepping in and buying the facility outright, we didn't just protect Langford's last public pool from permanent closure, the numbers show we are forecasted to also save taxpayers over $100 million in rent over the building's life (Yes this is even after the maintenance costs).
Even more importantly, we are using this challenge to secure our long-term stability. Once the loan for this facility is paid off in a few years, that exact funding will automatically roll into Langford’s first-ever Asset Management Plan.
While Langford is a young city, everything young eventually becomes outdated. Our roads, pipes, and facilities are aging. As we saw with the catastrophic water main failures in Calgary, ignoring infrastructure maintenance until it breaks is a recipe for fiscal disaster. Building up reserves today is the best way to lock in the lowest possible cost for maintenance, ensuring the next generation isn't left holding the bag for a crumbling city.
I agree, while the past decision to ignore future costs was not sustainable, the increases this term are also not sustainable. These were never meant to be lasting increases, but a structural catch-up which is now, largely, behind us.
Watch to see exactly how we are replacing the old illusions with actual, long-term financial stability.