policyenthusiast
Active Member
All things considered, I expected a steeper tax increase.
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.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.
Yeah this seems to be an overlooked cost saving source that probably will suddenly appear during the spring budget adjustment.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.
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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.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.
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.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.
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.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.
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.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.
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 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.