Magog proceeds with loan for Downtown Revitalization

Magog’s City Council adopted a notice of motion on Monday for a $21.6 million borrowing by-law to complete the Downtown Revitalization Project. The City will borrow $14.1 million, part of which is eligible for a grant from the Government of Quebec, in order to help fund the plan to beautify and bring life back into the city’s downtown core. The remaining funding will be drawn from the downtown surplus and various other surpluses, funds and reserves.

"We chose to do this for a number of reasons. The main thing is that we want to make sure we have all the money needed to start the project as planned, starting next spring," said acting mayor Nathalie Bélanger, explaining the decision to go forward with a by-law rather than using the city’s own funds. The acting mayor insisted that, "the amount of $21.6 million represents the maximum amount the City can allocate to this project". She added that "the current municipal council has followed this project closely and has analyzed all facets. Elected officials have the information necessary to award the contract to the contractor who will respect the clauses of this particularly complex tender."

Once the by-law is adopted, citizens will have the opportunity to express their views on the subject. The normal procedures for the entry into force of a loan by-law will follow the adoption. Debt management policy

By ratifying a loan of more than $14 million, councillors made the unusual decision to go beyond the debt management policy, which sets the maximum loan for infrastructure at $7 million annually. Bélanger justified this move by saying that "this is the largest project in the history of Magog and once completed, the downtown will be an extraordinary engine of economic, tourism and social development.”

Downtown Revitalization Project Update

In September 2017, Magog City Council members refused bids received in the call for tenders for the revitalization of the downtown core because the lowest proposal exceeded the amount allocated to the project. Since then, plans and specifications have been completely revised.

"Our team rolled up their sleeves and analyzed each item of the plans and specifications in order to find less expensive solutions, without distorting the project or the initial concept and respecting the allocated budget,” said Nathalie Pelletier, municipal councillor and chair of the downtown revitalization committee. “As we mentioned last April, this exercise led us to make the decision not to include the development of the Parc des Braves in the works. Options such as the belvedere at the corner of Sherbrooke and Principale streets and that of rue de la Grosse-pomme are also excluded from the project and we have reviewed the choice of materials and street furniture."

The city center being a key sector, the City has taken care to ensure that the needs and wishes of merchants and citizens are met. Despite the compromises that have been made, the project retains the unique, inviting, and unifying character of the downtown. Pelletier added that "merchants, who have been mobilized for a few years, met with planners recently to ensure their needs are met. We wanted to know how open they were to the strategies that will be put in place and we will accompany them during this period."

In the coming weeks, the City of Magog will launch a call for tenders to award the contract for the execution of downtown revitalization works.