Reserve Funds - they are for the 7 projects !

Just to remind people, we are indeed drawing from the reserved funds
(to help fund) "several" infrastructure, cultural and civic projects.

Indeed, these are the projects that were identified by the people
of the City, council and to be called upon for the 7 priority projects.

http://www.cityofkingston.ca/cityhall/strategic/seven/

Now, that we have over runs on The Grand Theatre, and Market Square..people, KCAL & some councilors seem to think its the LVEC that is making the "largest draw" from reserve funds. Which is just incorrect.

Market Square and the Grand have almost doubled their original budgets!

And (these local wish list investments) for these two projects, do not have a business plan and does not allow for a "pay back" of our investment.

The Grand, and Market Square with their limited usage, low capacity, and generally low, to no ticket revenue are "wisher projects". They were initiated by heritage groups with limited funding. And little planning experience when it comes to such "initatives".

They may be well meaning - but if you have little money but high risk ventures..you better be prepared to either take something out of the concept, i.e fountains or decorative windows or not move ahead at all.

Unfortunately, council did not stop these two projects, or asked the projects be scaled back when they should have earlier.

The LVEC example (with only 10% overage) will have a much faster pay back, and revenue stream. Solely because of its capacity and multipurpose assets, its LEED design for efficiency and its modern long term maintenance free building. This allows for a better ROI of our reserve investment. To pay back the overages etc.


The LVEC has many more "available funding possibilities" for public & private investments than The Grand, or Market Square ever will. Especially, now since the Springer donation issue.

Ravensview treatment facility was a "legislated" project. Because of Walkerton.

Thus, funding from the Province and the City was needed. @ $ 125,000,000 this project was the one that costs us the most, and we get "safe water" into the future. It also may come in below budget.

To be so simplistic, because one does not understand or agree with the LVEC, over the
Market Square or The Grand Theatre...i.e this money could upgrading sewers is one thing, it is quite another to suggest the LVEC is the "main" cause of concern for reserve fund usage.

And its one thing to "wish" for Market Square or "Grand again" days of old. But, you first must be able to afford these dreams, It seems to me this town maybe lost in nostalgia again....with out any "stuarts of accounts payables" to wake you up!

Indeed, from the outset the Grand Theatre AND Market Square have been poorly financed and planned from the beginning.

Combined both have taken 13 million plus - the (largest share of reserve funds) compared to what they will "pay back".

You now have been LVEC EDUCATED!