CALGARY, Alta. — The City of Calgary is going full-steam ahead on its plan to improve the area’s roads, but it’s still unclear who will be footing the bill.
One option outlined in a report yesterday would see council borrow $350 million over a five-year period. The report indicates that if the city increases its payback time, then tax hikes won’t be necessary.
Other options being considered range from tolls, a downtown driving fee in effect certain hours, an increase in licence plate renewal fees and a fuel tax.
Ald. Dale Hodges tells local media that “It’s time for a new borrowing policy because there are projects out there that need to be done. If we don’t do them, we’ll be stuck with the traffic and congestion we have now for another five years.”
If approved by council Feb. 25, the city will take up to 20 years to pay back the money it owes for major capital projects, rather than the 15 years originally expected.
Calgary Mayor, Dave Bronconnier, was elected partly because of his commitment to build more roads and help clear up traffic congestion.
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