The Jun. 27, 2016, Strategic Meeting of Council included:
2017 Tax Rate
Council received an update on Action Plan Mid-Cycle Adjustments for information including alignment of focus areas for adjustments with Council Priorities, tax rate reduction options and implications as well as strategies for reducing the tax rate. Council approved the report recommendations including directing Administration to make the one-year freeze on 2016 user fees permanent. Council also approved a property tax rate increase of 1.5 per cent for 2017 funded through a one-time rebate from the Fiscal Stability Reserve, to effectively achieve a net increase of 0 per cent in 2017.
Financial Implications Of Municipal Sustainability Initiative Amendments
Council received a report for information on the capital and financial implications of Municipal Sustainability Initiative (MSI) agreement amendments. In 2007 September The City of Calgary entered into a funding agreement with the Province of Alberta entitled, “The Municipal Sustainability Initiative”. This agreement was to provide The City with approximately $3.3 billion in capital funding over 10 years. Over time, the Province has altered the actual cash distributions. This report provides an overview of key changes and revisions to the MSI agreement and implications to The City.
Update On The Capital Investment Strategy
Council received an update on the progress of the Capital Infrastructure Investment Strategy. The items requiring Council’s approval; including recasting the 2017 capital budget, were deferred to the Priorities and Finance Committee Meeting being held on June 28, 2016. Given the current economic situation, the City is analyzing potential infrastructure investments that would support further economic growth, create jobs and leverage City and private investment.
Council received a presentation from by Calgary Sports and Entertainment Corporation (CSEG). Council directed Administration to actively engage in dialogue with CSEG, Calgary Municipal Land Corporation and other key stakeholders to examine two possible options. Administration is to report back to Council with options, recommendations and associated risks no later than December 2016. The proposed CalgaryNEXT concept calls for a multi-use facility that would include a 20,000-seat arena and event centre for hockey games and concerts and a multi-purpose fieldhouse/stadium.
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More Council News in Brief – highlights from Council and committee meetings