Sarnia's Mayor disagrees with council's decision to add debt to the city's books for the installation of two solar rooftop projects. During its meeting Monday, council unanimously approved a partnership agreement with Bluewater Power that would be a 'no money down, no risk' approach for the pilot project. However, the city's investment would appear as a form of debt on the financial statements. Mayor Mike Bradley says he wished council accepted the 'traditional approach' instead, investing without Bluewater Power and not adding any debt. "The next four or five councils will have debt on the books," he says.
"We have tried the last three or four councils to remove debt, and to eliminate debt, we'd be one of the few debt-free cities in this country. So now, we have basically put on a city debt load for the next 20-years, debt! I think that's the wrong direction." For the 20-year project, Bluewater Power will assume all maintenance and risk for the rooftop installations on Sarnia Harbour and Bluewater Gymnastics Buildings. The city will receive $1,250 per roof, per year or $50,000 total, in net revenue for both the projects. This is the first debt item added to council's financial statements in 12 years.
