The City of Edmonton is proposing to largely stay the course on its capital budget even as it is facing a sharp decline in revenue due to the COVID-19 pandemic.
The spring 2020 supplemental capital budget adjustment, which is slated to be brought before city council on Monday, recommends a series of changes that would result in a net decrease to the 2019-2022 capital budgets of only $1 million.
We apologize, but this video has failed to load.
The capital budget for 2020 alone is $2.8 billion.
The city’s chief financial officer Mary Persson said the plan is designed to “stay the course” in part as a way to try to preserve future jobs that come with capital projects.
“We have had touch-points with council throughout about keeping the capital budget as whole as we can to keep the jobs and the funding in Edmonton and to be aligned with what the province is doing with respect to their stimulus funding,” Persson said.
The city estimates that the overall four-year capital plan will create 66,600 jobs in industries like construction.