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Skyline, a Guelph-based capital management firm, has pledged to fund the installation of a 150-foot Canadian flag along Highway 400, at the city’s Emergency Services Campus on Fairview Road. Originally budgeted at $250,000 from Barrie’s Reinvestment Reserve, the project will now proceed without the use of city funds. 

Barrie Mayor Alex Nuttall said he applauded Skyline for its generous donation. 

“I was delighted and grateful when Skyline offered to cover the entire cost of the project,” he said. 

“This gesture shows Skyline’s commitment to this community, and we are incredibly thankful. We did receive feedback from residents, and while it was wildly in favour of the  flag, there were concerns with the cost. Thanks to their ongoing commitment to Barrie,  this flag will fly high in time for Canada Day.” 

The company is currently leading the development of a multi-residential project on Grove Street West in Barrie’s north end, which will add 541 rental units — including 32 designated as affordable housing — by 2027. Skyline co-founder and CEO Jason Castellan said in a news release that the decision to fund the Canadian flag project was made as a symbol of national unity.

“We recognize this project as a powerful representation of Canadian spirit and identity, and we’re honoured to contribute to a meaningful initiative that will endure for generations,” he said. “Skyline is a proudly all-Canadian company. In each community we serve, we are supporting Canadian families, businesses, jobs, and the economy by providing great places to live, work, and shop.” 

Along with covering the full cost of the flag project, Skyline will support Barrie in managing logistics, such as selecting the site and securing all required approvals.

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Credit rating agency S&P Global has changed its assessment of the city from stable to positive, which will lead to lower borrowing costs. The city has a AA+ rating from the firm, one step below AAA, the top ranking.

S&P, which produces annual reports, said it was moved to change Barrie’s classification because it anticipates the city will borrow less going forward and the community’s economic growth is strong enough to provide additional tax revenue needed for future infrastructure investments.

“The positive outlook reflects our expectation that revenue growth will bolster Barrie’s budgetary performance and mitigate borrowing needs such that the city’s debt burden will continue to fall in the next two years,” reads the report.

Barrie Mayor Alex Nuttall heralded the revised rating as “great news” for the city that “affirms the strength of Barrie’s economy and provides confidence to both residents and business owners.”

He also noted that under his leadership, council is “committed to being financially responsible while making necessary investments to support our growing community,” and that an improved credit rating will “help us keep taxes down while still maintaining essential programs and services.”

According to S&P’s report, Barrie is expected to “continue generating healthy operating surpluses” of some 17 per cent of operating revenue in the next two years,” while its strong population growth is “expanding the taxable assessment base, and moderate property and user rate increases.”

The agency also estimated that Barrie’s debt burden will fall to 52 per cent of revenue in 2026, owing to planned repayments that will “exceed Barrie’s modest borrowing needs of about C$50 million over 2025 and 2026.” S&P said hitting that debt benchmark is “materially lower than our previous forecast and is more in line with that of ‘AAA’ rated peers.”

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