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RIM Park Inquiry ready to hear final arguments Final statements were made last week, when business experts predicted Waterloo will have a tight economic future, without a lot of room for increased debt load. iter eight months of testimony, citi- Ati,?, are now awaiting final argu- ems in the public inquiry into the RIM Park financing scandal. In fact, according to chartered accoun~ tam Peter Barr of Deloitte & Touche. who has reviewed the city's fiuances for the inquiry. Waterloo will be in financial hard- ship for thenext IOyears. The city is [PM on revenues generated hom Grey Silo golfcourse and the multi-use sportsplex to help pry lor, the facility. - -- _ Buf Barr warhéd: if those revehues fall short, the result will mean an increase in property taxes. _ - - - Thai's something Conn. Marty Taylor doesnt want to see happen. He blames that ptfssibility on the cir- cumstances that led to the financing scan- dal which have become clear through the inquiry. "My worst fears have been confirmed." said Taylor. the city's chair of finance who recommended a judicial inquiry be held into the financing scandal. "The city admin, istration operated m a culture where it sole- ly focussed on the concept. but didn't ana- lyze how that concept should be imple- mented. . Taylor said the inquiry has highlighted the changes that are needed in the way the city does byineg _ - - "There was either inability or refusal try senior staff to analyze, verify and check the specififs of tht tPnsactiom", A - _ A _ And despite the rising costs of of the court proceedings. which could range between $2 million and $4 million after the lustice Ron Sills, commissioner of the inquiry, makes his final recommendations. Taylor believes the truth is invaluable "nr we didn't have the inquiry, we would never have learned what has happened." he WATERL00,.f,,1lfIR0l0CII BYANmtEARanEr ChmnickStqlr tdrttirtoedoopage2 WEDNESDAY, MAY M, 2003 . WATERLOO, ONTARIO Shoppers and passer-tsys along King Street in Waterloo were treated to a glimpse of the 17th annual Torch Run tor Special Olympic last Thursday morning. as Waterloo regional police officers. including Sgt. (in lime! (above), pounded the pavement. 1r - 1;“ ', ' D VI NU send)) wipiilji'i'igi tti) Ile, 1856 Passing the torch ig)j,lttt,liil.ihrr, $1 INCLUDING GST 1” Vector m f Liam! min!- "In Waterloo heritage clock will begin ticking again. Viewpoint You said It Local group brings back folk music coffee house. Snow?! Kitchen: 'ttttloo 663 Victoria St N. 744-5611 Building Box' Gibson Sound a. Vision Manulife Ride for Heart' DiMurco Golf' Trinity Evangelical' Big Bill's Furniture WHAT'S INSIDE $4,900 Page19