Did you know? Over the next 50 to 60 years, Calgary is forecast to grow by another 1.3 million people. (City of Calgary)
Accommodating growth and the infrastructure it requires have impacted the City’s finances. Revenue has not kept pace with costs, and infrastructure projects have been delayed and services reduced.
“Over the next ten years, the City of Calgary will require approximately an additional $7.0 billion in revenue and funding to meet the current level of citizens’ expectations for services and infrastructure.“ (City of Calgary Long Range Financial Plan 2011)
In response, the City is developing the Framework for Growth and Change, which will be voted upon sometime after the election. It will include:
- A sequencing formula to decide when and where the City will provide or upgrade infrastructure
- A Land Supply Strategy to ensure there is serviced land to accommodate growth
- A Financing and Funding Strategy to identify the tools to pay for growth-related infrastructure and to evaluate private sector proposals for servicing land that does not qualify for City-funded sequencing.