Possible release of hydro financials discussed

As part of debate on tax-exempt status for Grimsby’s biodigester, the possiblity of releasing related hydro financials was raised.

While Ald. Joanne Johnston noted it is a private business but Town-owned, financials should be made public.

“If the Town owns it, why can’t the financials be disclosed,” Johnston said, to an outburst of sustained applause from the near capacity gallery on hand for the meeting.

While CAO Derik Brandt gave an outline of the legislative reasons why financials don’t have to be released, Mayor Bob Bentley noted that competitive reasons are also part of the reasoning.

Ald. Dave Wilson picked up on a point many citizens have commented on in recent years in that council, as the corporate shareholder, has a choice if financials are released or not.

“Shafee told us that if the Town tells the corporation to release it (financials), hydro can release the financial information,” noted Wilson.