Barry Gutteridge, Director of LUI, has requested that the Town agree to an amendment of the 2006 promissory note of $7M with the Town of Cobourg. Most people do not understand this and would rather not read or think about it.
Since our inception in the Spring of 2015, the Cobourg Taxpayers Association has fought for transparency by continually asking that Holdco financial statements be made open to the public. We are very pleased that this has now happened. You can find more information here:
Cobourg Taxpayers Association President Lydia Smith and board member Paul Pagnuelo talk candidly about property taxes, giving advice to council and the need for transparency at Holdco, the town’s corporation for Lakeshore Utilities on Consider This Live, as part of the Drive Time with Dave Glover on Northumberland 89.7 FM.
In 2014 Cobourg residents paid $32.6 million for electricity, water and street lights, yet all details of the operations of Lakefront Utilities and associated companies are hidden from the residents and even the town’s Council.
Why does the Town of Cobourg Holdings Inc.