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www.oakvillebeaver.com The Oakville Beaver, Wednesday February 6, 2008 - 5 Region balks at GO funding February 29 - March 2, 2008 · Metro Toronto Convention Centre - North Building Continued from page 1 ties to fund one-third of that figure. This raises Halton's expected contribution from $37 million to $75 million. "The significant expansion of program magnitude presents an increasing financial risk to the Region, given that only a portion is recoverable through development charges," said Janice Sheehy, Halton's director of financial policy and internal audit. About $45 million of Halton's portion is expected to be recoverable through development charges. But this leaves $30 million to be funded by taxpayers over the 10-year period. Around $3 million, or $14 per household, was budgeted for 2008. Regional council passed a motion in late 2006 that asked the Province to amend the Development Charges Act so that GO's growth capital plan is fully recovered by development charges. The motion said if that doesn't happen, then the Region will limit its contributions to the amount of development charges it collects. That started last year. "We will stop paying invoices when we run out of (development charge) money," noted Sheehy. Halton Commissioner of Corporate Services and Treasurer Jane MacCaskill said the Region is still collecting tax dollars for GO and putting them aside as a safeguard for if and when the Province comes looking for its money. "The expectation from the Province is that we will pay our share," she said. She noted if the Province does assume the full funding responsibility, it would be up to regional council to decide what happens with the savings in the budget. The motion is scheduled to go before Regional Council today. The Region is also working to organize a GTA/Hamilton summit with local municipal partners to discuss municipal financing issues such as the GO funding. It's slated to be held June 6, but a location has yet to be determined. 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