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Norfolk County remains good credit risk
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Norfolk County remains good credit risk
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Norfolk council enters Day 7 of its 2021 budget talks Tuesday looking for a breakthrough.
Two options for balancing the budget were on the table when Mayor Kristal Chopp adjourned the Day 6 session two weeks ago.
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Try refreshing your browser. Council seeks solution to budget logjam Back to video
These include borrowing from the county’s $70-million Legacy Fund as a means of moderating an 8.3 per cent increase in the residential levy or foregoing the loan and imposing a tax hike four times the rate of inflation.
Council was split following a lengthy discussion Feb. 2. Several motions to borrow varying amounts from the Legacy Fund were defeated in a series of 4-4 votes. Also defeated was a motion to “rip off the Band-Aid” and fix this year’s shortfall immediately – painful as that may be for some.