Questions and Comments

Question / Comment:

The Guelph Mercury Tribune reported that we've spent $810,000 on this process, and it will cost $2.36 million to finalize. How was this money spent? How are we spending the rest?

Response:

An asset review is an important investment to ensure we’re getting the most value for City-owned assets. Staff at the City and Guelph Hydro, are working with expert financial, legal, and community engagement consultants to complete the research, analysis, documentation, and negotiations involved in this important business transaction.

These costs are not paid through property taxes, but rather through Guelph Municipal Holdings Inc., which receives its funding from the Guelph Hydro dividend payable to the City of Guelph each year.

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