Municipal Politics

[policyenthusiast]

All things considered, I expected a steeper tax increase.

 

[Kosy123]

Yeah considering the original was something like 11% too. Dropping interest rates could also mean possible lower debt payments too by next year especially if we get another 25 or 50 bps drop.

 

[policyenthusiast]

Yeah considering the original was something like 11% too. Dropping interest rates could also mean possible lower debt payments too by next year especially if we get another 25 or 50 bps drop.

According to the budget, the City is spending around $266M on debt servicing per year. Between rate cuts and the province cutting interest for municipal loans, there are massive savings opportunities that rely on interest rates.

 

[Kosy123]

According to the budget, the City is spending around $266M on debt servicing per year. Between rate cuts and the province cutting interest for municipal loans, there are massive savings opportunities that rely on interest rates.
View attachment 608683

Yeah this seems to be an overlooked cost saving source that probably will suddenly appear during the spring budget adjustment.

 

[Gronk!]

I took Anne Stevenson's budget survey. https://www.annestevenson.ca/survey

Here's what I think she missed in her survey - I suggest you all do likewise:

 

[edm13]

Yeah considering the original was something like 11% too. Dropping interest rates could also mean possible lower debt payments too by next year especially if we get another 25 or 50 bps drop.

Banks of Canada cuts don’t really affect the longer part of the yield curve, which is where the city borrows. I can tell you that the bank of Canada rates severely effect what can be earned on the city’s working capital though.

 

[husky]

Was interesting to see the City is looking at divesting Chancery Hall and Century Place. Almost wonder if having private sector offices over there might liven things up a little bit

 

[trevorhayden]

Edmonton Sports Hall of Fame returns to Century Place?

 

[thommyjo]

As a massive supporter of transit, our LRT debt and costs do feel a bit out of proportion with ridership. I know it’s generational investments, but I wish we’d do more to improve transit instead of spending billions to still have just 10-15% of trips on it.

A great example I’ve mentioned before if better linking other city investments like rec centres and libraries to trains, instead of 10min drives away from trains.

Getting LRT/Transit safe obviously too.

Just so hard to see billions and billions being spent on the LRT when our usage is so small relative to other cities. We need to see that change.