CALGARY, ALTA. – Calgary City Council has approved adjustments to the city’s service plans and budgets to further invest in affordable housing, public safety and transit.
Key investments include $90 million in capital funding, $27 million in annual ongoing funding and $54.5 million in 2024 one-time funding for housing, as well as $15 million in annual ongoing funding and $2 million in 2024 one-time funding for transit and safety initiatives.
Approximately $6 million in annual ongoing funding will go to a permanent commitment to delivery of Calgary’s Mental Health and Addictions Strategy and $3.4 million in annual ongoing funding will go to sustain the Calgary Fire Department’s improvements to emergency response, a release said.
Council also approved a three-year plan to balance taxes between business owners and homeowners with one per cent of tax responsibility shifted from businesses to homeowners each year in 2024, 2025 and 2026.
“Using sound financial management, council leveraging the projected positive operating variance, prudent use of reserves, investment income and other non-tax sources to partially offset the tax increase and put forward capital dollars to get projects done that Calgarians rely on,” the release said.