Mayor Nenshi has big spending plans for $30M surplus
Posted Dec 11, 2015 7:20 am.
Last Updated Dec 11, 2015 7:29 am.
This article is more than 5 years old.
While most Calgarians are facing tough economic times, the city has found a boat load of cash to the tune of $30-million and Mayor Naheed Nenshi wants to spend it now.
Mayor Nenshi will put forward a motion Monday to put the money in a one-time resiliency fund instead of putting it away in the fiscal stability reserve.
Nenshi wants to freeze transit fees and recreation and parks fees for a year, except adult bus passes which will still go up to $103 per month starting in January, but only because they’ve already been printed.
He also wants to pump $5-million into non-profits and city business units that need it as well as $14.4 million for affordable housing initiatives.
“We’ll certainly reach people in need and let’s remember that if we roll back a four-dollar adult bus pass fare [increase], that’s about what the total property tax increase was last year per month so it’s actually a pretty big deal,” he said.
Unfortunately, this will only be a one-time deal. Nenshi says everything just lined up with deferments and project savings to be able to do it.
