TAMRMS#: B06
9.1
title
Bylaw 2/2025 Transit Garage Expansion Borrowing Bylaw (1st Reading)
Presented by: Brenda Barclay, Manager of Financial Operations
label
RECOMMENDED MOTION(S)
recommendation
That Bylaw 2/2025, being a borrowing bylaw for the Transit Garage Expansion, be read a first time.
body
SUMMARY
At the December 17, 2024, Council Meeting, as part of the approval of the 2025 budget, Council approved this project to increase the transit garage capacity to meet current and future service levels, and to accommodate growth transit/para-transit buses.
The cost of the project was estimated and approved at $10.8 million dollars. The borrowing bylaw is being set at $13.5 million, which includes a 25% contingency. The intent is to fund this project through borrowing with Alberta Treasury.
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
Council approved the following motions on December 17, 2024:
AR-24-598
That the 2025 Consolidated Municipal and Utility Budget in the amount of $404,834,000 and the Net Tax Requirement of $141,608,500 as shown in the attachment titled "2025 Consolidated Municipal & Utility Budget" be approved.
That the 10 Year Municipal Growth Capital Plan provided as attachment titled "10 Year Municipal Capital Plan" be approved.
That the 10 Year Utility Growth Capital Plan provided as attachment titled "10 Year Utility Capital Plan" be approved.
That the 2025 Municipal RMR Capital Charter COMS-001 Community Capital grant Program be increased by $11,000.
BACKGROUND AND DISCUSSION
This project is required to increase the transit garage capacity to meet current and future service levels, and to accommodate growth transit/para-transit buses.
The project is the design and construction of a 12-lane parking garage extension, an additional maintenance bay, and storage to Liggett Place. This is required to accommodate present and future service levels, growth in the number of transit buses and additional support equ...
Click here for full text