The City of Windsor could be going into nearly $120-million of debt to fund development of the Sandwich South lands.
City Council approved applying for funding for two of the the five phases of development totally $119.4- million.
"To meet the needs of the hospital, to meet the current needs for economic development, to connect Cabana Road down to the clover leaf that the province is going to build and open up at Lauzon Road and certainly to meet the demand for housing that has been pent up on that particular piece of land for almost a decade," said Windsor Mayor Drew Dilkens.
The first two phases include transportation infrastructure for the Airport Employment Lands north of Cabana Road, a stormwater management pond, and pre-engineering and design work for the Lauzon Parkway extension. This work is scheduled for completion by 2029.
The total estimated cost of the the Sandwich South development is $280.2-million over 10 years.
It's estimated 85 per cent of the costs will be covered by development charges. But the city will need to incur debt until the fees are paid by developers.
"We're taking on the debt, over a period of 10 years to do the work required. The development charges collected by construction in that area will help pay the debt," said Dilkens.
The motion to give staff permission to apply for financing was passed with a 10-1 vote.
Councillor Fred Francis said while he supports the projects individually, he would have liked to see more public consultation on incurring so much debt.
