Edmonton Neighbourhood Renewal Program Announced
Edmonton’s new Neighbourhood Renewal Program is focusing on updating infrastructure.
“This three-year funding formula is designed to ensure we have the dollars necessary to more strategically manage the roads, sidewalks and streetlights that support our neighbourhoods,” says Mike Koziol, general manager of Capital Construction.
The complete cost for neighbourhood renewal will be funded through the combination of property taxes (a two per cent tax imposed annually for three years, from 2009-2011), provincial funding, and cost sharing with property owners. Neighbourhood renewal will cost the average Edmonton taxpayer $30 in 2009, and an additional $30 in both 2010 and 2011. The proposed tax increase will provide an additional $15.4M in 2009, $31.6M in 2010 and $48.5M in 2011, for a total of $95.5M.
“Proceeding with this work in the current economic climate, allows our dollars to go farther,” says Koziol. “We anticipate a greater level of interest from the construction industry, more bids and lower construction costs for renewal work.”
The Neighbourhood Renewal Program balances the immediate rebuild need in some neighbourhoods with a preventative maintenance approach supporting long-term asset management. Through the variety of options included in the program investments in renewal efforts will be customized to the circumstance of the neighbourhood. Options include: