17 May Dredge it, and they will come. And we will throw them out.
Headline: CBRM to seek control of Laurentian Energy’s greenfield site
Headline: CBRM warns harbour site suitor
Let me see if I have this straight:
The Cape Breton Regional Municipality, which is $102.9 million in debt, and which constantly complains that it can’t afford to provide basic services, is going to borrow $6 million to buy 400 acres of harbour-front land, or a lesser amount to buy a controlling interest in the company that is selling the land, all to block — yes, block! — a proposed industrial development, so it can “save” the land for a fantasy container pier that will never, ever happen.
CBRM can afford to do this because it is overflowing in industrial development, and because a glorious fantasy in the bush is worth a real industry in the hand, especially in an election year.
CBRM can borrow beyond its already unsafe debt-service ratios, because it will be rolling in cash as soon as it gets the evil oppressors in Halifax to start forking over its rightful level of handouts, or rather, equalization payments. (The current level is more than what Halifax sends to all other municipalities in the province, combined.)
Dredge it, and they will come. And we will put the run on them. This is what passes for economic development strategy in the fervid brains of CBRM’s mayor and council.
There may be legitimate reasons to question this proposed development. But pretending Sydney is going to get a container pier isn’t one of them. That fraud has gone on long enough.