Saskatoon will take out loan to cover snow removal cost
City council has approved a plan to cover the cost of removing the snow from December's snowstorm by taking out a loan.
The proposal had already cleared the council's Governance and Priorities Committee, with councillors Darren Hill, Cynthia Block and Mairin Lowen opposing the plan at the committee stage.
Under the plan approved during Wednesday's council meeting, the city will borrow money to cover the anticipated $20 millon dollar cost of grading streets and removing the snow that accumulated during the holiday storm.
The money will be paid back through a 0.75 per cent tax levy over four years that will also help put money in an emergency fund to help cover the cost of future snow events.
Council will be considering ways to offset the cost, potentially by delaying some capital expenditures to absorb the added expense.
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