Debt- How Much Do We Owe on What?

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Source: 2020-2026 Forecasted Long-Term Liabilities Graph, Accompanies page 15 of the Proposed 2022 Budget

Total Liabilities $ 21,864,965

Annual Payments $4,506,792

Here is our list of our current debt projects. I did not include: Drainage as it is user pay, Shoreline Assistance Grant program as it is user pay and minimal amounts for Waterworks related to Energy Upgrades as the amounts are small but those amounts are included in the total debt figures.

If you would like a copy of our complete list of long term debt please reach out to me via email and I will provide it to you. sbondy@essex.ca

I believe in the next term of council and even in the final year of this term we MUST get serious about our debt. This is the highest I have ever seen our debt levels and its time to reevaluate spending and find partnerships for wish list projects. For example we still have not found naming rights for our Twin Pad Arena.

Environment Services: Sanitary Sewer

Funded through the payment of Wastewater rates….

Harrow Wastewater Treatment Plant– Original Amount- $4,057,000 Maturity- 2025 Interest Rate- 2.67% Annual Payment- $263,128 Balance as of Dec 31 2021 $873,676

Essex Wastewater Treatment Plant Upgrade and Expansion– Original Amount- $1,990,220 Maturity- 2026 Interest Rate- 2.66% Annual Payment- $277,830 Balance as of Dec 31 2021 $1,292,715

Erie Road Sanitary Sewer Extension – Original Amount- $402,303 Maturity- 2024 Interest Rate- 3.40% Annual Payment- $48,130 Balance as of Dec 31 2021 $135,102

Essex Flooding – Original Amount- $3,076,455 Maturity- 2027 Interest Rate- 2.76% Annual Payment- $354,156 Balance as of Dec 31 2021 $1,945,994

Protection to Persons and Property

Fire Department – St 3 Energy Upgrades– Original Amount- $9,144 Maturity- 2024 Interest Rate- 3.60% Annual Payment- $1,076 Balance as of Dec 31 2021 $2,566

Fire Department- St 2 Energy Upgrades– Original Amount- $ 4,968 Maturity- 2024 Interest Rate- 3.60% Annual Payment- $585 Balance as of Dec 31 2021 $1,394

Police Station Energy Upgrades– Original Amount- $ 45,912 Maturity- 2024 Interest Rate- 3.60% Annual Payment- $5,404 Balance as of Dec 31 2021 $12,883

Gesto Office Energy Upgrades-Original Amount- $ 3,650 Maturity- 2024 Interest Rate- 3.60% Annual Payment- $430 Balance as of Dec 31 2021 $1,024

Fire Station 1 Replacement -Original Amount- $ 2,979,109 Maturity- 2034 Interest Rate- 3.62% Annual Payment- $210,615 Balance as of Dec 31 2021 $2,168,628

Engine 1 Station -Original Amount- $ 532,400 Maturity- 2023 Interest Rate- 3.20% Annual Payment- $116,080 Balance as of Dec 31 2021 $224,021

Fire Station 2 Estimate Debt -Original Amount- $ 3,282,031 Maturity- 2041 Interest Rate- 2.55% Annual Payment- $211,529 Balance as of Dec 31 2021 $3,282,031

General Government

Essex Municipal Bldg Energy Upgrades– Original Amount- $75,165 Maturity- 2023 Interest Rate- 3.60% Annual Payment- $8,847 Balance as of Dec 31 2021 $21,091

Essex Streetscape ESTIMATE – Original Amount- $ 6,351,000 Maturity- 2042 Interest Rate- 4.00% Annual Payment- $467,318 Balance as of Dec 31 2021 N/A as estimate and work not started

Harrow Streetscape Estimates – Original Amount- $2,291,500 Maturity- 2036 Interest Rate- 3.00% Annual Payment- $191,951 Balance as of Dec 31 2021 $2,291,500

Public Works

Ferris Road Building Energy Upgrades– Original Amount- $23,186 Maturity- 2024 Interest Rate- 3.60% Annual Payment- $2,729 Balance as of Dec 31 2021 $6,506

Harrow Industrial Park – Original Amount- $350,000 Maturity- 2026 Interest Rate- 2.76% Annual Payment- $40,291 Balance as of Dec 31 2021 $221,391

Erie Street ( Clark and County Road 20) – Original Amount- $370,609 Maturity- 2027 Interest Rate- 2.76% Annual Payment- $42,664 Balance as of Dec 31 2021 $234,427

Erie Roadwork – Original Amount- $692,641 Maturity- 2027 Interest Rate- 2.76% Annual Payment- $79,736 Balance as of Dec 31 2021 $438,126

Salt Shed Replacement – Original Amount- $369,626 Maturity- 2022 Interest Rate- 2.37% Annual Payment- $78,828 Balance as of Dec 31 2021 $77,449

Half- Ton Pick – Original Amount- $34,661 Maturity- 2022 Interest Rate- 2.37% Annual Payment- $7,392 Balance as of Dec 31 2021 $7,263

Half Ton Pickup – Original Amount- $34,667 Maturity- 2022 Interest Rate- 2.37% Annual Payment- $7,393 Balance as of Dec 31 2021 $7,264

Ward 1 Storm Sewer Improvements – Original Amount- $2,493,605 Maturity- 2032 Interest Rate- 3.00% Annual Payment- $292,327 Balance as of Dec 31 2022 $2,493,605

15- Ton Tandem Replacement – Original Amount- $103,980 Maturity- 2022 Interest Rate- 2.37% Annual Payment- $22,175 Balance as of Dec 31 2021 $21,787

Essex Wastewater Treatment Plant Upgrade and Expansion– Original Amount- $1,990,220 Maturity- 2026 Interest Rate- 2.66% Annual Payment- $277,830 Balance as of Dec 31 2021 $1,292,715

LED Conversion- Estimate – Original Amount- $680,000 Maturity- 2027 Interest Rate- 2.00% Annual Payment- $105,068 Balance as of Dec 31 2021 $680,000

Community Services

Twin Pad Arena – Original Amount- $10, 000, 000 Maturity- 2030 Interest Rate- 4.65% Annual Payment- $773,423 Balance as of Dec 31 2021 $5,379,599

Essex Community Centre and Library Energy Upgrades – Original Amount- $154,861 Maturity- 2024 Interest Rate- 3.6% Annual Payment- $18,227 Balance as of Dec 31 2021 $43,454

Harrow Arena Energy Upgrades– Original Amount- $11,233 Maturity- 2024 Interest Rate- 3.6% Annual Payment- $1,322 Balance as of Dec 31 2021 $3,152

Essex Recreation Centre Energy Upgrades– Original Amount- $5,088 Maturity- 2024 Interest Rate- 3.60% Annual Payment- $599 Balance as of Dec 31 2021 $1,428

Harrow Colchester South Arena Roof – Original Amount- $341,982 Maturity- 2024 Interest Rate- 2.88% Annual Payment- $39,603 Balance as of Dec 31 2021 $113,043

Twin Pad Arean – Original Amount- $930,277 Maturity- 2029 Interest Rate- 3.33% Annual Payment- $91,592 Balance as of Dec 31 2021 $638,623

Pickup Truck – Original Amount- $32,268 Maturity- 2022 Interest Rate- 2.37% Annual Payment- $6,882 Balance as of Dec 31 2021 $6,761

Woodview– Original Amount- $26,463 Maturity- 2022 Interest Rate- 2.37% Annual Payment- $5,644 Balance as of Dec 31 2021 $5,545

Rec Lands Ward 1 – Original Amount- $1,100,342 Maturity- 2027 Interest Rate- 2.76% Annual Payment- $126,669 Balance as of Dec 31 2021 $696,015

Ditching and Consulting on Recreation Lands– Original Amount- $61,820 Maturity- 2023 Interest Rate- 3.20% Annual Payment- $13,479 Balance as of Dec 31 2021 $26,013

New Stairs at Harbour Restaurant – Original Amount- $180,891 Maturity- 2023 Interest Rate- 3.20% Annual Payment- $39,440 Balance as of Dec 31 2021 $76,115

Harbour Building Conversion – Original Amount- $77,286 Maturity- 2023 Interest Rate- 3.20% Annual Payment- $16,851 Balance as of Dec 31 2021 $32,520

Community Services Dump Truck – Original Amount- $56,405 Maturity- 2024 Interest Rate- 3.45% Annual Payment- $12,475 Balance as of Dec 31 2021 $34,984