EDMONTON — The City of Edmonton has released the 2023-2026 proposed capital budget, kicking off the budget process this fall.
Totalling $7.75 billion, it is the administration’s proposed plan for advancing construction projects over the next four years and beyond.
Over a year in the making, the plan involved analysis of the economy and the city’s financial position, prioritization of projects, input from city council and extensive engagement with Edmontonians.
“At council and during engagement with Edmontonians this spring, we shared that the next four year budget was going to be about tough choices,” said Stacey Padbury, chief financial officer for the City of Edmonton, in a statement. “Like all Edmontonians, the city is dealing with economic uncertainty and inflation, and this capital proposal responds to these challenges with a focus on what’s most important: renewing existing infrastructure and advancing new projects that are critical to the city’s growth.”
The budget includes $4.4 billion in already approved construction projects, including projects like the Blatchford redevelopment, LRT expansion and the Yellowhead Trail freeway conversion.
It also proposes $3.3 billion in new capital projects, with a focus on renewing existing city infrastructure. Over $2.2 billion is earmarked for strategic spending to help maintain existing infrastructure over the next four years and beyond. This includes rehabilitating the High Level Bridge and William Hawrelak Park. Administration also recommends replacing the city’s original LRT fleet, which is over 40 years old, states a release.
“These projects will not only support the economy and the construction sector over the next four years, they’re also how we’ll keep building, sustaining and modernizing the places and spaces that make Edmonton a great place to live now and for generations to come,” said Adam Laughlin, deputy city manager of integrated infrastructure services.
The proposed capital budget will be presented to council on Oct. 31. It is one of four proposed budgets council will consider. Each of the budgets will be presented to council over the next several weeks, followed by a public hearing on Nov. 28 and 29. Council will adjust and finalize the budget in December.
Those interested can view the city’s proposed capital budget by visiting edmonton.ca/Budget.
Recent Comments
comments for this post are closed