Share this page Print

Priorities and Finance Committee Mar. 6, 2018

  • Share

The Mar. 6, 2018, Priorities and Finance Committee meeting included:

Green Line Light Rail Transit Project Delivery Model Recommendation

A delivery model is the main component of a project’s overall contracting strategy. Over the past two years, an interdepartmental team together with independent experts have determined a method by which the Green Line LRT project should be procured from detailed design through to long term operations and maintenance. The Committee recommended that Council approve a Design-Build-Finance (DBF) delivery model; this short-term model combines design and construction under a single contract and includes short-term private sector financing for the construction period. The DBF model provides a number of benefits to The City including high cost and schedule certainty, efficiency, flexibility for future expansions, and reduced credit risk.

The Committee also recommended that Council authorize the General Manager of Transportation, to negotiate and execute funding agreements with the federal and provincial governments. Finally, they recommended that the details of funding negotiations remain confidential until an agreement is reached.

This will be brought forward to the March 19, 2018, Combined Meeting of Council.

Economic Development Investment Fund Governance and Terms of Reference

The Economic Development Investment Fund (EDIF) is an effort to create a more agile and responsive approach to supporting economic recovery and growth in Calgary. Council has approved an allocation of $100 million for the long-term funding of the EDIF. The guiding principles of the EDIF focus on strategic investments made with transparency and accountability. The Committee recommended that a non-profit Wholly Owned Subsidiary of The City be created to govern the fund. They brought forward recommendations for Terms of Reference, funding approval levels, decision-making authority, and proposed that Governance Board members be nominated from the current steering committee for a term of one year. Council endorsed Councillor Davison for a spot on the new board.

The newly formed EDIF Subsidiary will report back to Council on the results of the pilot governance structure in early 2019.

2018 Tax Relief Option Report

The overall decrease in the market value of non-residential properties has caused a tax shift within the city. To mitigate the increase in 2017 municipal non-residential property assessments, Council approved a Phased Tax Program (PTP 2017). Administration has explored possible alternative options to provide tax relief for this year. After reviewing the benefits and risks of other possibilities, the Committee recommended that Council approve a PTP for 2018.

This will be brought forward to the March 19, 2018, Combined Meeting of Council.

 


Council News in Brief is an informal summary of highlights from Calgary City Council meetings. The City Clerk provides the complete and formal documentation of Council’s meetings including agendas, minutes and video.

More Council News in Brief – highlights from Council and committee meetings



Access City Services

For non-emergency service

Contact311

311 connects citizens with non-emergency services, 24 hours a day, seven days a week.

Download the app
 

Available for iPhone in App Store and Android in Google Play store.

Request service online

Submit a request

For City news and information search Calgary.ca and follow the City on social media.