, Editor |
Hamilton’s struggling municipal golf courses need 127 golf carts and City staff are recommending Council finance the cost of $685,673 from the Unallocated Capital Reserve. Over the next four years, $89,150 will be taken from the Public Works operating budget to return funds to the Capital Reserve. This $356,000 will be combined with $342,900 which the vendor promises as the buyback amount in four years. Staff say the purchase option will save $20,197 annually compared to the cost of renting golf carts from the vendor. Staff say the City collects an average of $462,500 in golf cart rental income each year on the three municipal courses.