interest rate myth

MYTH
The City lost $600,000 of interest in the Town Centre land sale.

FACT
The choice was between $6.3 million or $7.7m. City Council chose to get more money for taxpayers – an additional $1.4m by opting for phased payments secured by a second mortgage.

Over the length of the payment period, this is the equivalent of earning an annual interest rate of over 5.4%.

The risks were analyzed prior to entering the agreement. It was a good deal that made more money for taxpayers.

You expect your elected representatives to get their facts straight before making critical statements.

I do my homework. Because sometimes common sense by itself isn’t enough.



One Response to “interest rate myth”

  1. Lisa Says:


    Visit Lisa

    the myth/fact blogs are helpful to clarify some of the rumors abounding; also campaign communications in terms of misconceptions, fact omitting when telling a version of the truth, and spreading false fears through those types of campaign tactics by some candidates. I’m bored with candidates who tell me a version of a truth, when, I’ve actually read the minutes or attended a meeting in person, or been involved in a process. All the best Saturday.


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