The City of Edmonton released a proposed four-year, $4.3-billion capital budget Thursday.
Approximately 45 per cent of the next capital budget will be allocated to infrastructure renewal, with the rest going towards new infrastructure.
The budget highlights three major projects: Valley Line Southeast LRT ($814.7M), Yellowhead Trail Freeway ($281.5M) and Blatchford’s redevelopment ($115M).
The Neighbourhood Renewal Program will receive $635 million, in part to rebuild roads, sidewalks and street lights.
The city said it is “challenged” by the province’s reduction to the Municipal Sustainability Initiative (MSI) funding, a $61 million per year decrease until 2021—when MSI ends.
“In the fourth year of this four-year cycle, our administration has made some assumptions about what we hope will be there, but really, the number is zero,” Mayor Don Iveson said. “We were promised in the spring that we were going to have clarity and certainty this fall on it. Clock’s running out here, because we’ve got decisions to make.”
There was no money set aside for the Lewis Farms Community Recreation Centre and Library and the Terwillegar Drive Expressway Upgrades. Instead, the two projects could be considered under the 2019-2026 debt-financing.
The proposed capital budget will be presented to City Council October 23.
With files from Jeremy Thompson
