There will be a “special council meeting” tomorrow night (Monday January 18th at 7PM) in Council chambers. The meeting’s title on the town’s website indicates that it will have a “closed session” which would keep most residents and our local media from bothering to show up. Upon closer examination of the agenda, it seems that Council is getting a presentation from Troy MacDonald of Grant Thornton LLP about the proposed sale or merger of the Midland Public Utilities Corporation – a move that nobody was elected to consider and seems to be counter-productive to the local economy since this is the only major asset we own that makes us more than 1/2 Million Dollars yearly – forever.
If you care about the Mayor’s push to rid the town of this valuable asset to get some quick cash, then you should be attending this meeting. The presentation is BEFORE the closed session and would normally go un-noticed by the community when slipped onto an agenda titled “Special Council Meeting (With Closed Session)”.
It would be great for the mayor and those who support the sale of the PUC to have nobody attend and hear the reports from their consultants.
Troy MacDonald is from Grant Thornton firm in Toronto. He is a consultant who will be giving an overview on LDCs (local power distribution) and the strategic considerations for municipalities on potential sales and or mergers. It will be an overview of the marketplace and the considerations for Midland shareholders – Midland residents are the ONLY current shareholders and benefit from 100% of the yearly profits (dividends).
It would be wise to attend this meeting and learn some facts about this plan so you can decide whether you support the notion or not and can take steps to let your elected officials know either way.
You can read the opinion of the MPUC’s past chairman of the board in a previously published article.
Unless the community comes together, this Council will act on your behalf and claim that nobody voiced concern. We urge you to come to the meeting, hear what Council hears and then decide if this deal is good or bad for the community. The repercussions of getting this wrong could be similar to the Provinces failed attempts at hydro de-regulation and their mismanagement of our Provincial assets.
One of many links about the Auditor’s report about Hydro rates and mismanagement by the Province.
A petition is currently online asking Council to stop the sale of MPUC. You can click here to sign the petition.