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Article content 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. We apologize, but this video has failed to load. 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. ....
Article content Norfolk council is having as much trouble setting its 2021 budget as many households are during these pandemic times. Council cycled through six resolutions Tuesday aimed at bringing Norfolk’s operating budget home with a 3.3 per cent increase in residential property taxes, all to no avail. We apologize, but this video has failed to load. Try refreshing your browser. Council deadlocked on budget Back to video The takeaway from a meeting filled with impasses and indecision is this council – as presently constituted – is not enthusiastic about dipping into Norfolk’s $70-million Legacy Fund as a means of moderating taxes during a difficult economy. Four resolutions involved borrowing assorted sums from the fund and all were defeated, two of them in 4-4 votes. ....
Community as divided as council Author of the article: Monte Sonnenberg Publishing date: Feb 01, 2021 • February 1, 2021 • 2 minute read • Day 6 of Norfolk County’s 2021 levy-supported operating budget deliberations is set for Tuesday. The key item on the agenda is whether the county should withdraw $5 million from the $70-million Legacy Fund as a means of moderating a pending tax increase. – File photo Article content If correspondence to Norfolk County is any indication, opinion is divided on whether Norfolk council should borrow $5 million from the Legacy Fund as a means of moderating a tax increase this year. The loan is a key component of staff’s long-range plan to put the municipality on a sustainable financial footing. During Day 5 of its levy-supported budget deliberations last week, council agreed to give the public a week to share its thoughts. ....
Article content Norfolk’s $70-million Legacy Fund could be the life raft that helps the county ride out the hurricane of COVID-19. In the draft operating budget prepared for 2021, county staff propose drawing $7.5 million from the Legacy Fund over the next two years to compensate for disruptions to the local economy and local households’ diminished ability to pay for current service levels. We apologize, but this video has failed to load. Try refreshing your browser. Legacy Fund eyed to lessen tax burden on Norfolk residents Back to video The proposed plan includes annual interest payments on the proposed loan of about $300,000 over the next 12 years. ....