Greater Sudbury considers paying for infrastructure projects through debt financing
Sudbury is in a favourable position to take on more debt, council hears
The city of Greater Sudbury is taking a close look at borrowing money to pay for infrastructure projects.
Infrastructure Services Manager Tony Cecutti said now is the right time to fix roads and water mains.
"If we invested money in them now, we would preserve them for a longer life cycle," he said.
"But if we wait a little bit longer, they have to be entirely replaced at significantly more money. So what debt financing can do is allow you to spend the right money at the right time."
City staff are preparing another report on debt financing that would list infrastructure projects in order of priority and shovel readiness.
with files from Olivia Stefanovich