On June 10, Council discussed 2 reports on the capital budget.
One report, the Spring 2025 Supplemental Capital Budget Adjustment (SCBA), recommended adjustments to the current 2023-2026 capital budget. The City regularly adjusts the 4-year budget so it can respond to any changing project needs, emerging issues and changing priorities. Council approved a number of changes that amount to $75 million (0.7%) net increase to the $11 billion capital budget. The biggest change is to add Neighbourhood Renewal funding so the City can keep moving Neighbourhood Renewal projects forward in 2027 and beyond.
The other report, the Prioritization of Renewal in 2027-2030 Capital Budget, looks forward towards the next 4-year capital plan. The City owns over $34B in assets, which is a lot to maintain! The report recommends that the City puts as much funding as possible towards maintaining its existing infrastructure (e.g. roads, bridges, facilities). It also looks at new projects the City will need to consider, especially because of rapid population growth, and recommends the City limit new projects to those that are mandated by legislation, deal with safety concerns, are eligible for grant funding or that show significant benefit to the overall prosperity of Edmonton.