HomeCommunity GroupsPort Hopers for Fair TaxesPRESS RELEASE: Public Info Event on Oct. 2 re LLRW Trust Fund Lawsuit porthoper October 1, 2014 Port Hopers for Fair Taxes, Upcoming Events 1 Comment For Immediate Release September 29, 2014 – Port Hope, Ontario – Citizen group, Port Hopers for Fair Taxes, will be holding a public event at 7:00pm Thursday, October 2nd, 2014 at the Lions Centre, 29 Thomas Street in Port Hope. Port Hopers for Fair Taxes will provide information about the legal challenge and will welcome questions on the LLRW Trust Fund lawsuit and other issues related to fair taxation. Please join us! All candidates running in the upcoming municipal election in Port Hope would also be very welcome to attend. The Municipality of Port Hope has received the legal challenge regarding the LLRW Trust Fund monies. On Monday, September 22nd, the Municipality of Port Hope was formally served with an Application to the Superior Court of Ontario The Application to the Court is to confirm that the Township of Hope Trust Fund has always been and still is a trust fund and its only beneficiaries are the ratepayers of Ward 2 (the former Township of Hope) We estimate the total value of the Fund to be approximately $12½ million We suggest residents ask candidates in the upcoming municipal election to outline their thoughts and positions on past usage of the Township of Hope Trust Fund monies Port Hopers for Fair Taxes held a press conference on September 24th, where Ian Angus described the nature of the legal challenge and provided the media with background about ratepayers’ concerns over the way the Municipality has been using the interest from the Township of Hope’s LLRW Trust Fund. BACKGROUND In 2000, The Federal Government undertook to provide a $10 million host community grant to each of three LLRW host communities: The Municipality of Clarington, the Town of Port Hope, and the Township of Hope. The principal of each of the Port Hope Fund and the Township of Hope Fund is to be held for the exclusive benefit of the ratepayers of the area that comprises Ward 1 and Ward 2 respectively. The incomes generated by the two funds were to be treated differently. The Town of Port Hope accepted the $10 million subject only to having to return it if their storage site wasn’t licensed or if all the wastes were removed from the Town of Port Hope. The Hope Township Council however established the Hope Township LLRW Trust, the “Township of Hope Fund” where the $10 million was to be held in trust by a trustee and the interest used to reduce the municipal tax otherwise payable by each of the ratepayers in the Township. The wording for the two funds differs substantially. Income from the Port Hope Fund can “be expended by Port Hope from time to time in its discretion for any purpose permitted by law.” Income from the Township of Hope Fund, on the other hand, is to be used “to defray the lower tier municipal taxes or levies which otherwise would be payable by the ratepayers of aforesaid geographic area of Hope Township…” In 2002, the Municipality of Port Hope (MPH) started ignoring the restriction on the Township of Hope Fund income. That year $472,929 of that income was transferred and used for the MPH general Capital and Operating expenses. A further $198,065 was similarly transferred in the following year. In 2005, the MPH started transferring the Township of Hope Fund income to its building and equipment reserve, a practice that has continued every year for which records have been made available. Over seven years, a total of $2,150,436. has been transferred to the MPH building and equipment reserve: interestingly, since amalgamation, the MPH has not built a single structure in Ward 2. In addition, records produced by the MPH indicate that a further $306,185 from the Township of Hope Fund income has been taken for purposes that are of exclusive benefit to Ward 1. Ward 2 ratepayers having exhausted efforts to resolve these misappropriations amicably, have now found it necessary to enlist the assistance of the Superior Court. Port Hopers for Fair Taxes For information on “Port Hopers for Fair Taxes” visit: http://www.porthopecommunitygroups.org/porthopersforfairtaxes/ and visit “Port Hopers for Fair Taxes” on Facebook at: https://www.facebook.com/PortHopersForFairTaxes One Response Rod stewart October 2, 2014 Sorry I couldn’t make the meeting at LC this evening. Law is a wonderful thing. I hope if the court finds there is a sugar daddy fund (placed there by forward thinking lower tier leadership of the day) for lowering the taxes in Ward 1 that I didn’t know about , that I live long enough to sell this crazy jag in PH and return to my beloved roots out there with you all. Have a good shout out!