Halifax Mayor Mike Savage says cities with an intent to grow need to shed timidity and understand that the biggest cause of failure is often risk aversion.
Savage made the comment during his annual state of the municipality speech today before the Halifax Chamber of Commerce.
He told the audience of business and community leaders that “more can be lost by avoiding opportunity than by falling short of ambitious goals.”
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Savage says he believes embracing opportunity leads to stronger economic and social development.
To illustrate his point, Savage touted the growth in the city’s downtown core in recent years.
But he also cautioned that budget challenges lie ahead as the city grapples with the impacts of arbitrated collective agreements, the ongoing consequences of the residential assessment tax, and the tax implications of new commercial construction not yet at full occupancy.
Savage said the municipality’s current debt stands at $240 million.
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