Developers in Brockton fear a stipulation by Westario Power is threatening development in the municipality.
Westario wants developers to agree on a revenue guarantee over a 25-year period to cover capital and ongoing maintenance.
Westario C-E-O Lisa Milne and Brockton Economic Development Committee Chair Michael McIntee both came to last Monday’s Brockton Council meeting.
Milne says the guarantee ensures that ratepayers and shareholders are not on the hook in case the development defaults.
She says the company is responsible for the ongoing maintenance on the development once it is completed.
McIntee says there are small local developers who are looking to build and the guarantee will put unnecessary pressure on them.
He says Westario gets an up front cost of 3 thousand dollars per lot and that is covered by the developer whether the home is hooked up or not.
McIntee says subdivisions in Brockton will have an added cost on top of the money paid out to lawyers, planners, and engineers.
He says Westario wants to interject themselves into the subdivision agreement without consultation.
Milne says she understands the impact this stipulation will have on developers.
But she says Westario also has to assess the risk and the Board of Directors also assesses that risk as well.