Municipal Politics

[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.

 

[policyenthusiast]

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:

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Airport to Downtown public transit was brought up by the Premier during the ECC's "State of the Province" luncheon. She said she wants to "100% make sure it happens", which suggests provincial involvement/funding.

 

[Gronk!]

Airport to Downtown public transit was brought up by the Premier during the ECC's "State of the Province" luncheon. She said she wants to "100% make sure it happens", which suggests provincial involvement/funding.

As long as the Premier is fully aware that there's another major city in Alberta that requires her attention, it's all good news. Just need to make sure that Anne Stevenson and the rest of City Council are on the same page.

 

[policyenthusiast]

As long as the Premier is fully aware that there's another major city in Alberta that requires her attention, it's all good news. Just need to make sure that Anne Stevenson and the rest of City Council are on the same page.

That also came up, she described it as "a need for equitable treatment" and said she was looking to build airport-to-downtown transit in Calgary as well.

 

[Gronk!]

If the Premier is really espousing "equitable treatment" then provincial funding of the demolition of the old Coliseum and ICE District Phase 2 must be forthcoming.

 

[policyenthusiast]

If the Premier is really espousing "equitable treatment" then provincial funding of the demolition of the old Coliseum and ICE District Phase 2 must be forthcoming.

I doubt any action will be taken regarding the Northlands Coliseum until it becomes a legal liability, instead of just an expensive eyesore. Would be nice to see the ICE district expansion sooner rather than later, but it also seems like the appetite is to more broadly improve Downtown for year-round activity.

I would like to be optimistic, but neither of these seem like priorities at any level of government this year.

 

[David A]

I doubt any action will be taken regarding the Northlands Coliseum until it becomes a legal liability, instead of just an expensive eyesore. Would be nice to see the ICE district expansion sooner rather than later, but it also seems like the appetite is to more broadly improve Downtown for year-round activity.

I would like to be optimistic, but neither of these seem like priorities at any level of government this year.

Yes, I feel city council seems to be caretaker mode, maybe because of the upcoming election next year. But, no grand new ideas and higher taxes don't seem like a strong platform for any incumbent to run on IMO.

 

[SarcasticMarmot]

Yes, I feel city council seems to be caretaker mode, maybe because of the upcoming election next year. But, no grand new ideas and higher taxes don't seem like a strong platform for any incumbent to run on IMO.

I'm afraid there also just isn't any money for grand ideas at the moment. And the public doesn't seem to be interested in paying more for grand ideas.

 

[David A]

I'm afraid there also just isn't any money for grand ideas at the moment. And the public doesn't seem to be interested in paying more for grand ideas.

I understand this, but if the public is not interested in paying more for something better, they are even less interested in paying more for the same or even less.

I feel the key to success for our future city council will be how to figure out how to do more with less (and not just by increasing other fees) and get funding elsewhere for other beneficial new things.

I don't think the current bunch is up to this and most people know that.