Comment 53766

By realfreeenterpriser (registered) | Posted December 23, 2010 at 21:55:24

"And by the way, the Future Fund money being 'ours' is absolutely true. It belongs to those Hamiltonians who are customers of our hydro utility, including people in Flamborough, Stoney Creek, Ancaster and Glanbrook, not just those living downtown"

Simply not true. The future fund was generated by the "privatization" of Hamilton Hydro which for 99% of its existance was wholly inside the boundaries of the old City. While Stoney Creek, Ancaster, Dundas and Flamborough DID have hydro commissions that amalgamated with Hamilton's in 2000, only Dundas's served the entire municipality. Ancaster and Stoney Creek's served their respective built-up areas, Flamborough served Waterdown and Lynden and Glanbrook was served entirely by Ontario Hydro. In summary, the money generated by the sale of Hamilton Hydro was rooted almost exclusively in the old city. By the way, I live in the country.

Most importantly, however, regardless of where the Future Fund came from, it's been mandated for certain specific uses, one of which is downtown revitalization. Confederation Park doesn't help that at all and in fact does the opposite.

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