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Chamber Supports Borrowing for Replacing Blue Bridge

August 05, 2010

The Greater Victoria Chamber of Commerce is stating its support to replace the Johnson Street Bridge and further, supports the borrowing of the funds that will be proposed to the public through a referendum this fall. 

“The immediate decision for the City is whether to replace or refurbish the bridge, and for business replacing the bridge is clearly the best option,” says Bruce Carter, CEO of the Chamber. “The prospect of closing the bridge for up to a year to do the work of refurbishment is untenable at best. There will be significant business loss on both sides of the bridge as well as to businesses west of the Bay Street Bridge whose access will be blocked with a year of traffic congestion. Potentially those losses will never be recouped and indeed they could lead to business closure. That of course means tax loss to the city, and increased taxes to residents.”

The Chamber also notes that, given the state of the City’s reserves, it is imperative to support the funding referendum for the amount needed to replace the bridge. “That figure is $56 million, though the City may bring the required amount down between now and the fall through pursuing more grants and finding internal savings,” continues Carter. “However, let’s be clear. The bridge has to be replaced one way or the other. If not through borrowing, it will happen through tax increases which have currently been cited in the neighborhood of 14%. That size of increase is absolutely unacceptable and will be a great financial burden to both residents and businesses.”

The Greater Victoria Chamber of Commerce has approximately 1500 members and is the voice of business for the Greater Victoria region. The Greater Victoria Chamber has received Accreditation with Distinction from the Canadian Chamber of Commerce.

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For more information contact:

Shannon Renault
Manager Policy Development & Communications
Greater Victoria Chamber of Commerce
Cell: (250 )812-0510
Email: srenault@gvcc.rg  



Bruce Carter
Cheif Executive Officer
Greater Victoria Chamber of Commerce
Tel: (250) 383-7191 Ext 201
Email: bcarter@gvcc.org





News Releases - 2010

Chamber Supports Borrowing for Replacing Blue Bridge (August 05, 2010)
Have Your Say on Municipal Taxes (July 06, 2010)
Past Chair of Local Chamber Moves up to Provincial Role (June 02, 2010)
Annual Report Shows Why We're A Natural Place for Innovation (June 02, 2010)
Business Vote a Part of Democratic Process (May 26, 2010)
$23 Million Cost to Victoria if Marina Prevented (May 12, 2010)
Chamber Celebrates Outstanding Performance at Chamber Awards (April 29, 2010)
City's Pace on Tax Reduction too Slow (April 08, 2010)
Greater Victoria Medals for Cost of Doing Business (March 30, 2010)
21 Billion Blooms in 2010 (March 05, 2010)
Budget 2010 Brings Few Surprises (March 02, 2010)
Asia Pacific and Digital Investments Good for Victoria (March 02, 2010)
Flower Count Takes Flight at the Airport on Thursday (February 24, 2010)
Prodigy Group Launches New Website to Engage Members (February 09, 2010)
Conference Board Sees Growth in Greater Victoria (January 27, 2010)
Report Confirms Victoria Needs to Focus on Crime Reduction (January 14, 2010)


News Releases - 2009



The Greater Victoria Chamber of Commerce
#100 – 852 Fort St. Victoria, BC V8W 1H8
Phone: 250-383-7191
Fax: 250-385-3552

chamber@gvcc.org

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