At a special council meeting on May 1, rescheduled from May 8, the District of Port Edward adopted both its five-year financial plan and its tax rates bylaw.
In the five-year plan, the district expects in the first year 19 per cent of its revenue to come from the Ridley Island Tax Share. Although the tax agreement is not the biggest source of revenue for Port Edward this year — “other grants” is listed as 20 per cent of this year’s revenue. The Ridley Island Tax Share is expected to be the main source of revenue through 2022.
In the bylaw adopted on May 1,the district expects the Ridley Island Tax Share to eventually account for 27 per cent of revenue within the five years. Of course, that may change depending on how many grants Port Edward receives.
In the May 1 meeting, chief administrative officer Bob Payette said the tax rate bylaw had “no surprises, just a minor increase of two per cent for residential.”
Councillor James Brown then asked to attend a one-day emergency preparedness workshop in Kincolith. The free conference will cover tsunami and flooding, with resources and companies present. His request was approved to attend on behalf of the district.