Media Release - Council Presented with Plan to Accelerate Debt Payments Through Land Sales

November 12, 2025

(GREATER NAPANEE, ON) Members of Town Council were presented with a plan that could see Greater Napanee accelerate its debt repayments through the proceeds of land sales.

In line with the Mayor’s budget directive, Town staff outlined options to address the remaining $6.6 million in unfunded capital projects. These projects were paid for with the Town’s operating dollars, and the Town is legally obligated to reconcile the items on its books in a timelier manner. 

The plan was outlined in an overview report on the Town’s reserves, debt obligations, and unfunded capital, which was presented to Council on November 10. 

Outstanding projects requiring repayment include:

• South Shore Road – $738,222
• Roblin Road, Thomas Street, and Camden Road – $1,046,955
• 99 Advance Avenue – $3,239,700
• Roblin Fire/Community Hall – $115,185
• Unfunded Roads Projects (East Street) – $613,486
• Richmond Industrial Park – $245,611
• Goodyear Development Charges – $649,524

The Town adopted a new surplus lands list in August of 2025. The list identifies 25 surplus properties that will be made available for sale in the near and medium-term future. If adopted, proceeds from land sales would complement the $566,000 a year that is already being allocated annually towards the repayment of unfunded capital projects.

Council was also provided with an overview of the Town's discretionary and obligatory reserve funds. Discretionary funds, which Council can direct to projects of its choice, sit at $5.6 million, excluding those specific to Utilities. The Town’s discretionary reserves include funds for fleet, elections, accessibility, arena capital, IT, an ice resurfacer, winter maintenance, and funds for building maintenance.

Obligatory reserves, for items linked to development charges and utilities, amount to $11 million and are subject to legal limitations on where and how they can be spent.

In terms of debt obligations, the Town has taken out one loan with a third-party lender, with two additional loans planned for the coming year. The current loan for Jim Kimmett Boulevard has a $2.1 million balance and an annual repayment of $140,000. 

The loan for the new Water Pollution Control Plant will come to $25 million and will require $1.6 million in annual payments from Town water and sewer ratepayers. The third loan will go towards a new $2 million fire truck and will cost $254,000 annually over 10 years.

Information on the Town’s debt will be included in the upcoming budget process, which is scheduled to begin in January 2026.

Media Contact: 

Kylie Huffman  

Community Engagement & Communications Coordinator  

Town of Greater Napanee 

T: 613-776-1116 

E: khuffman@greaternapanee.com  

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