City council approves 2016 capital budget

  • Dec. 2, 2015 3:41 p.m.

City council has approved the 2016 capital budget valued at $160.6 million. The capital budget includes projects that will take place next year, multi-year projects starting in 2016 or projects that require additional funding from previous years.

The 2016 capital budget focuses on key areas including infrastructure replacement and rehabilitation projects which include approved projects such as enterprise business applications, CPR pedestrian bridge remediation and crown paving. The budget also focuses on current growth projects which are focused within the current City growth area and include approved projects such as Alexander Way Phase 3, 67th St. corridor improvements and an additional snow storage site.

Future growth projects includes approved projects such as Electric, Light & Power service area expansion and the central park water trunk and community amenity projects include projects such as Riverwalk Phase 1, Memorial Centre preservation and enhancements to Great Chief Park and River Bend Recreation Area.

“With Red Deer exceeding 100,000 citizens and hosting major events such as the 2019 Canada Winter Games, we are budgeting for the needs of our community now and in the future. With this, also comes the need to weigh and consider the current economic uncertainty. To make our possibilities a reality we are targeting our investments towards projects and infrastructure that positions us as Alberta’s third largest city and we will continue to advocate for Red Deer’s needs with the provincial and federal government,” said Mayor Tara Veer.

With the approval of today’s capital budget, the City’s debt limit sits at 58%, which is below the 75% debt limit set by council.

“When we developed this budget for council’s consideration, we focused on balancing vision and economic reality,” said City Manager Craig Curtis.

“The reality is there is some economic uncertainty and recognizing this, we recommended a capital budget that is less than what we proposed in 2015 while putting forward a plan that respects council’s direction, vision and budget guidelines surrounding debt limit and tax increases.”

Along with the 2016 capital budget, Council approved the 2017-2025, $1.38 billion capital plan in principle allowing the flexibility for administration to adjust the priorities outlined in the plan based on community need and project funding.

“A project’s inclusion in the capital plan does not mean that it is necessarily going ahead, it simply means that the City is considering it, planning for it, and looking at financing options,” said Curtis. “We plan projects well into the future based on council direction, community needs and funding.”

– Fawcett

Just Posted

Tools for Schools program in need of school supplies for students

Supplies will be donated to students across Central Alberta

Smiles Thru Lindsey Foundation hosting a drive-in movie fundraiser

Excitement building as the big event draws closer

Expansions rolling ahead at Red Deer Hospice

Six new rooms will provide care to 100 additional residents each year

Red Deer RCMP warn public about online job scams

Red Deer man applied for a construction job and was asked a fee to process his application

Central Alberta Buccaneers come up short against Monarchs

Bucs’ lose star quarterback in heartbreaking affair

Average Canadian family spends 43% of income on taxes: study

Fraser Institute’s consumer report shows taxes accounting for larger chunk of income each year

Pesticides linked to bee deaths will be phased out in Canada, sources say

Neonicotinoids, or neonics, are a class of pesticides used by farmers and hobby gardeners alike

Wildfire smoke blankets B.C. and Alberta, prompting air quality advisories

About 25 new wildfires were sparked between Monday morning and midday Tuesday

Stettler woman facing 67 fraud-related charges appears with co-accused

Crown likely proceeding with more serious charge of indictable offence

Wetaskiwin Co-op robbed of laser tool, propane torch

Wetaskiwin RCMP attempting to identify two individuals involved in numerous thefts

Judge OKs Weinstein suit, cites casting couch’s history

Actress Kadian Noble can sue disgraced Hollywood mogul for violating sex trafficking laws

Employers to raise salaries 2.6% on average next year: report

Firm points to factors such possibility of more trade protectionism, rising interest rates

Lacombe Council passes second reading of cannabis bylaw

Public hearing sees opposition to bylaw; third reading coming Sept. 10th

UPDATED: Cars plunge in Italian highway bridge collapse; 25 killed

Five more people are injured and in serious condition

Most Read