Just reading about the meeting from June 7, where both councils have given the green light to the pool project. Using the Clark Builders with the 5% contingency fund, we are looking at $16,381,915.
Wow. Using Roger Morrill’s math, let us take a look . Roger says at 20 years, the $5 million debt would be paid off at $326,151.28/year payment, adding up to $6.5 million.
Interesting, as the town’s share of 40% comes in at $6.5 million, that means in 26 years that would add up to $8.5 million. The County’s share comes to $9.8 million, and if they are using Roger’s banker, that would add up to $12.8 million over 30 years , for a combined $21.37 million dollars over 26-30 years. That is without equipment and other wish list items that will come up, without the inevitable cost overruns, without solar ( only another $5 million dollars), without infrastructure costs, or any unforeseen expenses. Throw in what, an operating deficit of a million a year, in 20 to 30 years we are looking at 40 to 50 million dollars in total. Long ways from a $10,000,000 pool, isn’t it?
Howard Wilkie, Athabasca, AB