May 6, 2020 is the 1st Annual General Meeting (AGM) for the Hamilton Oshawa Port Authority HOPA. It's an on-line meeting starting at 4:30 p.m. Check in to hear the social report card on what's been happening and plans for the future!
Btw, did you know there is a 'Ships in Oshawa Port' link on the HOPA website where you can check info re the vessels coming and going from Oshawa Harbour! https://www.hopaports.ca/vessel-tracking-oshawa/
Here's a link to the HOPA financial statements...Oshawa and Hamilton Ports were amalgamated in June 2019 and the financial year end was Dec 31, 2019 https://www.hopaports.ca/wp-content/uploads/2020/03/2019-HOPA-Financial-Statements-EN.pdf
HOPA ended the year with a CASH balance of $20,952,144. This is better than the finances of the underused former Oshawa Port Authority which "had a revolving demand line of credit for $500,000 of which $121,575 had been utilized as at December 31, 2018. The credit facility bears interest at the bank’s prime rate plus 1% per annum, and was secured by a general security agreement. Subsequent to the amalgamation of the Hamilton and Oshawa Port Authorities the credit facility was closed and repaid in full." Paragraph 8 Page 10
About "payments in lieu of municipal taxes", it seems the City of Oshawa is still behind revenues because unfortunately 10 years ago, 3 terms of Oshawa Council previous, when the Oshawa Harbour Commission became the short lived 'Oshawa Port Authority " in accordance with a settlement agreement between Transport Canada, the Oshawa Port Authority (continued as the Authority) and the City of Oshawa dated July 15, 2010, the City of Oshawa agreed to waive annual payments in lieu of taxes through to December 31, 2025." (Page 5 of HOPA Financial Statements) That was when the City settled a long standing lawsuit with the federal government and the ownership of some lands were tranferred to the City, the area which recently was named Ed Broadbent Park (s/e corner of Simcoe St and Harbour Rd).
Btw, did you know there is a 'Ships in Oshawa Port' link on the HOPA website where you can check info re the vessels coming and going from Oshawa Harbour! https://www.hopaports.ca/vessel-tracking-oshawa/
Here's a link to the HOPA financial statements...Oshawa and Hamilton Ports were amalgamated in June 2019 and the financial year end was Dec 31, 2019 https://www.hopaports.ca/wp-content/uploads/2020/03/2019-HOPA-Financial-Statements-EN.pdf
HOPA ended the year with a CASH balance of $20,952,144. This is better than the finances of the underused former Oshawa Port Authority which "had a revolving demand line of credit for $500,000 of which $121,575 had been utilized as at December 31, 2018. The credit facility bears interest at the bank’s prime rate plus 1% per annum, and was secured by a general security agreement. Subsequent to the amalgamation of the Hamilton and Oshawa Port Authorities the credit facility was closed and repaid in full." Paragraph 8 Page 10
About "payments in lieu of municipal taxes", it seems the City of Oshawa is still behind revenues because unfortunately 10 years ago, 3 terms of Oshawa Council previous, when the Oshawa Harbour Commission became the short lived 'Oshawa Port Authority " in accordance with a settlement agreement between Transport Canada, the Oshawa Port Authority (continued as the Authority) and the City of Oshawa dated July 15, 2010, the City of Oshawa agreed to waive annual payments in lieu of taxes through to December 31, 2025." (Page 5 of HOPA Financial Statements) That was when the City settled a long standing lawsuit with the federal government and the ownership of some lands were tranferred to the City, the area which recently was named Ed Broadbent Park (s/e corner of Simcoe St and Harbour Rd).
