LED street lights could be on the way for Timmins.

City council has seen multiple pitches over the past few weeks, and they are almost ready to make a decision. Council is looking to approve a contract with Realterm Energy for just over $2 million.

They are also looking at a financing plan with Infrastructure Ontario, to save over $400K dollars a year.

City Engineer Luc Duval says that plan would keep the budget the same, pay off the lights in five years, and save money.  He says once the payment is done, the money is available for infrastrcture; bridges, roads, and the Connecting Link.

He says all the money you would save on maintenance and Hydro would be redirected to the loan. So there will be no impact on the budget over the next five years.

 

Other options will be outlined at next week’s meeting, like paying off the debt in 10 years instead of five. A formal approval will also come next week.