Request for Information Questions & Answers

What type of renovation/development is being planned for the current Bronte Harbour Banquet Centre after the end of the current lease (that was extended to December 31, 2018) and what is the duration? I would like to see documents relating to these plans.

At this time, redevelopment plans have not been established for the current Bronte Harbour Banquet Centre. Town staff are researching potential options that are financially sustainable. A recommendation report will be brought forward to Council in 2019 for consideration.

What are the material "terms" of the $90 million debenture financing that Halton obtained on behalf of the Town of Oakville in 2015, relating to the Oakville hospital funding "contribution" to HHS? For example, Halton's financial statements indicate the $90 million for Oakville is a 30 year debenture instrument. What are the material terms of that debenture instrument?

  1. Are both interest and principal payments amortized over the entire 30 year period, or not.
    No, payments are not amortized over the entire 30 year period.
     
  2. What is the interest rate of the debenture? Is it fixed or variable?
    It is a fixed coupon rate of 3.15 per cent.
     
  3. Is there a sinking fund established, comprised of periodic contributions from Oakville, to fund this indebtedness?
    Yes, there is a sinking fund with annual contributions from the town.
     
  4. What is the total cost of financing (i.e. cost of borrowing) comprising principal, charges and interest over that 30 year period?
    The total cost is unknown at this time.
     
  5. Is the debenture a joint and several liability of Oakville and Halton residents, or is liability solely that of the corporation of the Town of Oakville?  Is there a guarantee or bond posted with respect to this liability?
    The debenture is a joint and several liability.  It is unsecured.
     
  6. Exactly what amount in millions of dollars, is owed to the lenders at the end of the 30 year term of the bond?
    The amount is $90 million.
  7. What is the town’s 2018 gross expenditure for capital and operating?
    The final 2018 approved gross expenditure for capital and operating is $427.1 M.

  8. What is the town's total debt?
    The total outstanding debt as of January 1, 2018 is $119.5 M.

  9. What is the maximum amount of debt service charges permitted by the Province that a municipality can enter into?
    The maximum annual debt service charge by a municipality cannot exceed 25 per cent of its own revenue sources. The majority of own source revenue is taxes levied by the municipality. Council has set its own limit of 12 per cent.

  10. What is the town’s annual debt service charge as a percentage of its own source revenue?
    The town’s annual debt service charge is approximately 6 per cent of its own source revenue. This includes the debt service charge for the town’s hospital contribution.

  11. Is the Town of Oakville liable for the debt that has been raised by Oakville Enterprises Corporation?
    The town is not a guarantor of any of the debt that has been entered into by the Oakville Enterprises Corporation (OEC) and is therefore not liable for OEC’s debt.

Can you provide new ward boundary data formatted in KML or SHP?

This information has been uploaded to the town's Open Data Portal.

Can you provide information on the new Ward 7 including dwellings and names of household owners, future plans for the area, population of the ward and expected growth of the community?

In terms of the names of household ownership, this information is available to the public and can be accessed in person at the assessment counter at Town Hall (located outside the tax department). Individuals can use the online database at the desk to search street names and use the corresponding roll books (also available at the desk) to view homeowner names. Please note this information is updated annually and currently reflects information up until October 2017. As well, the voters’ list of all eligible voters in each ward will be provided to all certified candidates in September.

Information on future plans for North Oakville can be found online:
New Communities of Oakville Policy
North Oakville Secondary Plans Review

The interactive map online offers estimated population numbers for the future Ward 7.

Oakville’s population is expected to grow to approximately 246,400 residents by 2031, consistent with the province’s Places to Grow legislation.

What is the current zoning for the empty parcel of land at Navy Street/Robinson Street (south west corner)?

Zoning for the vacant property at the south west corner of Navy Street and Robinson Street is Residential Medium 4, Special Provision 16 (RM4-16). The zoning map is available in Part 19 – Maps (Map 19(8)) of Zoning By-law 2014-014.

Special Provision 16 in Zoning By-law 2014-014 provides the detailed site-specific zoning regulations which apply to the property. Review the details to Special Provision 16 in Part 15 – Special Provisions of the by-law.