Greater Napanee Council has received a plan that could help the Town pay down its debt faster using proceeds from future land sales.
Town staff presented the plan on November 10 as part of a financial overview that detailed $6.6 million in unfunded capital projects. The projects, including work on South Shore Road, 99 Advance Avenue, and Roblin Road, were paid for using operating dollars and must be reconciled to meet legal accounting rules.
The plan proposes using revenue from 25 surplus properties identified for sale in August 2025 to help repay the outstanding balance. This would add to the $566,000 already set aside each year for repayment.
Council also reviewed the Town’s reserves, which include $5.6 million in discretionary funds and $11 million in obligatory reserves. Debt information, including loans for the new water pollution control plant and a fire truck, will be included in the 2026 budget discussions.
Written by Emily Chatwood
