Asset Sale Proceeds - What should we do with the funds?

The estimated net proceeds from the sale of assets is $18.6 million.

This is the last time the Town will have this amount of funding available and, in terms of fiscal responsibility and sustainability, should not be considered a windfall. Once these funds are gone, they are gone.

The following options have been developed by staff as a starting point for Council and public discussion.

Debt Management

The total internal and external debt is $3,269,454.

Potential Project Funding

There are several potential projects that the funds, or a portion of the funds, could be directed toward.

- Collingwood Terminals

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The estimated net proceeds from the sale of assets is $18.6 million.

This is the last time the Town will have this amount of funding available and, in terms of fiscal responsibility and sustainability, should not be considered a windfall. Once these funds are gone, they are gone.

The following options have been developed by staff as a starting point for Council and public discussion.

Debt Management

The total internal and external debt is $3,269,454.

Potential Project Funding

There are several potential projects that the funds, or a portion of the funds, could be directed toward.

- Collingwood Terminals

- Extending Services to the “Spit” (the landform off our lakeshore featuring Heritage Dr. & Millenium Park)

- Seeking a Property in the Proximity of the Downtown Core and/or Waterfront Area

- Accommodation Study

Establish an Internal Loan Fund

This suggestion is a continuation of debt management and long-term planning. The reason behind this suggestion is to create an internal fund that would reduce or eliminate the need for future debenture financing.

Reserves

- Hospital Reserve Fund

- Working Capital Reserve Fund: This fund was established to provide a contingency for funding:

  • Temporary cash shortfalls minimizing the need for short-term borrowing;
  • Urgent, unforeseen expenditure requirements;
  • Unpredictable one time expenditures; and,
  • Business continuity in the event of a disaster or long term interruption of operations.

- Waterfront Master Plan Reserve Fund

- Lifecycle Replacement Reserve Fund/Asset Management Plan (AMP)

Legacy Funds

A legacy is defined as anything handed down from the past, as from an ancestor or predecessor. Council has an opportunity to create something that current and future generations will receive benefit from.

Community Foundation: Community foundations contribute time, leadership and financial support to local initiatives, helping people give back where their communities need it most.

Collingwood Legacy Fund: This suggestion would see a portion of the proceeds invested based on advice received from a professional fund advisor.

* For further details on any of the above, please see Staff Report T2019-01 on the right side of this page


Before Council makes a decision, we invite the public to have a say!

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  • How Should We Invest The Sale Proceeds?

    The Town of Collingwood is eager to hear your feedback and ideas on how to invest the estimated $18.6 million in net proceeds from the sale of assets (Utilities/Airport). This feedback survey will be available until June 30, 2019. Learn More

    Your ideas and feedback will help guide plan-building and future decision-making. Thank you for joining the conversation.

    The Town of Collingwood is eager to hear your feedback and ideas on how to invest the estimated $18.6 million in net proceeds from the sale of assets (Utilities/Airport). This feedback survey will be available until June 30, 2019. Learn More

    Your ideas and feedback will help guide plan-building and future decision-making. Thank you for joining the conversation.

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