EDMONTON -- Mayor Don Iveson is welcoming the federal government's relief funding amid the pandemic, though he stressed Edmonton's finances are not out of the woods yet.
On Thursday, Prime Minister Justin Trudeau announced the federal government would give a total of $19 billion to the 13 provinces and territories as part of the Safe Restart Agreement.
Municipalities across Canada are slated to receive approximately $2 billion to offset the losses caused by COVID-19.
"The City of Edmonton, like many big cities across the country, has faced immediate, significant and non-recoverable losses related to delivering essential services during this pandemic, such as transit, waste, emergency services, enforcement and other frontline services that Canadians depend on," Iveson said Friday. "We've seen rising costs, plummeting revenue, and no responsible ability for us to run deficits."
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Iveson, along with the Federation of Canadian Municipalities, has been vocal about the need to receive federal funding to attempt to get the books in order.
"This agreement is a promising start at addressing the financial crisis municipalities face in this pandemic, as we work to protect frontline services for Canadians and prepare to help lead Canada's much-needed recovery," said FCM president Bill Karsten.
Iveson said the Alberta capital's financial gap is estimated to be $172 million by the end of 2020, with the pandemic especially pumping the brakes on transit revenue.
ETS shortfall revenue is expected to surpass $60 million by the end of the year, Iveson said, and nearly reach $50 million next year as Edmonton expects low ridership to continue.
The mayor is unsure how much money Edmonton will receive as part of the Safe Restart Agreement — he estimates it will be in the low nine figures — but specified transit funds will be included.
"A robust transit system is critical for Edmonton's economic restart, and in turn, Alberta's economic recovery," Iveson said.
He thanked Trudeau, Deputy Prime Minister Chrystia Freeland and Premier Jason Kenney.
