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Nunavut signs capital contribution agreement with City of Iqaluit

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  • Lessard, George
    ... From: Government of Nunavut Press Release [mailto:atagak@gov.nu.ca] Sent: January 10, 2003 10:17 AM To: glessard@gov.nu.ca Subject: Government of Nunavut
    Message 1 of 1 , Jan 10, 2003
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      -----Original Message-----
      From: Government of Nunavut Press Release [mailto:atagak@...]
      Sent: January 10, 2003 10:17 AM
      To: glessard@...
      Subject: Government of Nunavut signs capital contribution agreement with
      City of Iqaluit


      IQALUIT, Nunavut (December 17, 2002) - On behalf of the Government of
      Nunavut, Manitok Thompson, Minister of Community Government and
      Transportation, today signed a capital contribution agreement with the City
      of Iqaluit. Under the agreement, the government will contribute $31 million
      to the city's $51 million capital plan.

      "The intent of this agreement is to ensure that Iqaluit has the necessary
      infrastructure required of a city. The community has experienced rapid
      growth and this contribution agreement is a normal part of addressing these
      changes," said Minister Thompson.

      The agreement will be valid for six fiscal years and will enable the city to
      make the necessary decisions regarding securing long-term debt and other
      financing options for capital projects.

      Since the creation of Nunavut in 1999, Iqaluit, as the capital, has
      experienced extraordinary growth, which has overburdened existing
      infrastructure to a point where it is at a critical stage.

      "We look forward to discussing our capital and operating proposal with
      Iqaluitmiut over the next few months," said Iqaluit Mayor John Matthews.

      "Council believes that the proposed plans will address many of the needs
      expressed by residents over the last several years -- from paving, to water
      and sewer upgrading, and from a modern solid-waste management program to
      transit. In light of the severe financial constraints we face today Council
      recognizes the important contribution the Government of Nunavut is making to
      the City of Iqaluit. We hope residents will agree," the Mayor added.

      Media Contact:

      Nino Wischnewski
      Government of Nunavut
      Communications
      (867) 975-6001

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