September Business Venture 2014

Page 1

• • • •

Mutual Funds Retirement Counselling Tax Investment Planning Life & Disability Insurance* *Insurance products provided by HollisWealth are provided through HollisWealth Insurance Agency Ltd.

September issue

Local business news, features & information

Speedvale Ave., GUELPH Waterloo Ave., GUELPH Stone Road Mall, GUELPH ROCKWOOD

FREE CONSULTING

Glen L. Barckert CFP® CERTIFIED FINANCIAL PLANNER®

HollisWealth Advisory Services Inc.

13 Paisley St., Guelph N1H 2N5 www.holliswealth.com 519-823-2790

2014 • Visit us online at ventureguelph.ca

www.rlproyalcity.com

Cast your vote on October 27 by Heather Grummett

1 lyon avenue, guelph 519.766.0001

jmoran@lyonfinancial.ca

MakingMoney ForYou.com

JOHN MORAN TEL

519.766.0001

TOLL FREE 1.877.ONE.LYON FAX 519.766.1521 JOHN@MAKINGMONEYFORYOU.COM

www.premiumhrsolutions.com

519-824-2428 Staffing & Recruitment Services

Bring this clipping to our Bell Clairfields Common location and receive an in-store credit of $25 towards your next purchase.

With just over a month until the Guelph 2014 Municipal Election on October 27, it’s time to consider the issues that matter to you and our city as we focus on selecting the city officials for the next four years. With six candidates running beside the current mayor, at press time it appears the race is down to two, with Cam Guthrie holding twice the approval rate over mayor Karen Farbridge. In a random public opinion poll, conducted on August 30 by the Forum Poll™, among 891 Guelph voters, over a third will vote for Cam Guthrie in the municipal election (36%), compared to the 21% who will vote to re-elect Mayor Karen Farbridge. Jason Blokhuis attracts only 4% of the vote and no other candidate gets a significant share. With eight out of ten voters aware of him, 73% approve of Cam Guthrie, compared to just over a third who approve of the job Karen Farbridge is doing as mayor at 37%. Awareness of any of the other candidates is limited, as is their approval, with the exception of Andrew Donovan, of whom 15% are aware but only one half approve. The poll notes that 40% of voters say the transit lockout will affect their vote, while just over half say it will not. However, the majority, at 53%, say the wrongful dismissal suit connected with the building of city hall will affect their vote, over the 38% who say it won't. Guthrie supporters are especially concerned with the dismissal suit, as 75% say it will affect their vote, while only 11% of Farbridge voters seemed concerned. The City of Guelph and Urbacon Buildings Group Corp. recently settled their legal dispute out of court for $6.635 million. A city press release on September 8 quoted Mayor Farbridge as saying,“By reaching a settlement out of

Stone Road Mall recently donated a cheque for over $8000 to The Foundation of Guelph General Hospital (GGH). The money was raised at Stone Road Mall’s Annual Children’s Charity Golf Tournament held on June 26, 2014. The money will go towards the purchase of two new cribs and additional supplies for the Paediatric Care Unit at Guelph General. The Paediatric Unit provides primary care for infants, children and adolescents up to the age of 19. Pictured left to right: Tony Stapley - General Manager Stone Road Mall, Janet Trowbridge - Director Inpatient Surgery and Paediatrics GGH, Christina Magee - Marketing Manager Stone Road Mall, Chelsea Smit - Administrative Assistant Stone Road Mall, Linda Craig - Senior Development Officer GGH, Annual Giving. (Photo by Mary Ellen Wales)

court, the City avoids further legal costs and gains certainty on the cost impact. The cost will be accommodated within the City’s capital financing guideline to ensure it does not result in an increase in property taxes, and that the City’s financial position is protected. As we move on from the litigation, we shouldn’t lose sight of the fact that today, Guelph has a well-functioning, award-winning City Hall and Market Square that will serve our community well for decades to come.” While the settlement is over $6 million, a Statement from the Office of the CAO shows, after legal fees and settlement costs, the total project deficit is $8,346,261. The City will fund the settlement costs not already provided for from its capital asset renewal reserve, the Legal/OMB reserve and the Capital Tax Reserve fund. The funds transferred from the capital asset renewal reserve fund will be repaid over a five-year period. As follow up, the City’s internal auditor has been asked to conduct a full review of risk associated with complex

capital projects so that the city administration can have the benefit of lessons learned during this project, and so that information can be applied to future projects. Of the proposed future projects, a South End Recreation Centre and a new main library are two developments being considered by Guelph residents with the election approaching. Voters are relatively split on spending tax dollars on a South End Recreation Centre during this term, with 44% in support and 48% opposed, while about one fifth have no opinion. Mayor Farbridge's supporters are more likely to favour the idea (55%) than are Guthrie voters (39%). When it comes to spending tax dollars during this term on a new library downtown, 58% disapprove, while just over a third approve at 36%. It seems again Farbridge voters are far more supportive of the development projects at 67% than the 14% of Guthrie voters who favour the additional spending. "It looks like the controversies of her administration have caught up with her,

and Karen Farbridge may have to surrender her chain of office. Cam Guthrie has obviously tapped into a vein of conservative-leaning support that sees big money city-building projects as unnecessary," said Forum Research President, Dr. Lorne Bozinoff in a recent press release. Increases to property tax is always a concern among land owners, however voters are evenly split when it comes to increases in the upcoming term with 52% of those polled not expecting to see property tax increases over the rate of inflation during this term. Last fall city staff originally recommended a 3.36 % increase to the proposed 2014 Tax-supported Operating Budget, representing an average property tax increase of $107 for the average residential taxpayer with a property valued at $311,136. An updated figure, close to one per cent less, was approved a month later at a 2.37 % increase over the previous year. While the numbers are close, the inflation rate in Canada was recorded by Statistics Canada at - continued page 3

Guarantee your retirement income even in a down market.

Limit one per customer, no cash value, valid only at our 5 Clair Rd Guelph location (Gordon & Clair Rd) *some conditions may apply

(519) 826-0980

BOOK NOW TO REVIEW YOUR INVESTMENTS PORTFOLIO WITH US

Venture Guelph Publications Ltd.

Call Jorden MacLean, BSC, EPC Real Wealth Mortgage Brokerage Lic No 10318

MacLean & MacLean Financial Group Inc.

2 Quebec St., Unit 232 Park Mall, Guelph

519-824-1595

• Retirement Planning • Segregated Funds • Alternative Investments • Mortgages • Life Insurance Products

Independently owned and operated. Truly local. Mike Baker, Publisher

ventureguelph.ca

116-355 Elmira Rd., N., Guelph

www.macleanfinancial.com email: maclean@macleanfinancial.com

519-837-3880


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.