Flood damage likely triple city’s estimate
Posted Jul 17, 2013 6:42 am.
This article is more than 5 years old.
Damage from the flood that devastated Calgary last month could be three times an initial estimate.
City council will be meeting next Monday to decide on whether to spend a $52-million tax windfall to create a flood reserve fund.
Before the flooding, many Calgarians wanted the money returned to their own pockets, but politicians are now pushing for it to be used for clean-up.
The city currently has $295-million in its fiscal stability reserve.
Mayor Naheed Nenshi says he would be open to using that cash to fund projects until the city is reimbursed with disaster assistance.
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