Council Roundup – November 22, 2011
November 24, 2011
2011 Projected Year-End Financial Results
City Council heard that the City is projecting to have a $25.5 million deficit at the end of 2011, mainly because of the large snow fall and increased snow removal activity early in the year. Since the City cannot legally run an operating deficit, Council voted to cover this from its Financial Stabilization Reserve (FSR), which is a fund specifically available for emergency or unforeseen expenses. The final number will be confirmed in March 2012. Council asked for a report on the options of creating a reserve snow budget within the FSR.
LRT Getting on the Right Track
Council asked for a report back from Administration on building the next stages of the LRT, including:
- The next steps to build the SE LRT from Millwoods Town Centre to downtown.
- How to fund the $800 million City contribution for this stage.
- How to work with both the provincial and federal governments for funding support.
Edmonton as a Leading Mid-sized City by 2030
In 2009, EEDC articulated a vision to have Edmonton be recognized as one of the world’s top five mid-sized cities by 2030. City Council heard a progress report - some recent activity includes:
- Bringing business and community leaders together through ONEdmonton to exchange ideas and coalesce around major issues and opportunities.
- Collaborating with the City in the Edmontonstories global marketing initiative, helping people around the world learn what life is like here.
- Assembling the Downtown Vibrancy Task Force to help accelerate the development of a stronger, cleaner, safer and more lively urban core.
Letters to Support National Public Transit Strategy
Council agreed to send letters that express support for the aims of a private member's bill to establish a National Transit Strategy to both the bill's sponsor and the Government of Canada. The letters will highlight the important role that transit can play in the development of the federal government’s long-term plan for infrastructure.
Expropriation of Lands
Council approved starting the process to expropriate land to build an interchange across the Queen Elizabeth II Highway at 41 Avenue SW. The Interchange will improve access to and from residential areas in southwest Edmonton and facilitate the movement of goods and services from the new Canadian Pacific Railway intermodal facility and other commercial/industrial facilities to the east of the interchange.
The cost of the interchange will be shared by the Federal and Provincial government and the City of Edmonton. Construction is proposed to start in 2012 and be completed by the end of 2014.
When the City expropriates land, it deals with affected land owners to ensure that they receive fair and appropriate compensation