City mulling over what to do with $86-million surplus
Posted Mar 16, 2016 7:29 am.
Last Updated Mar 16, 2016 7:37 am.
This article is more than 5 years old.
What would you do with $86-million?
That’s what the city is trying to decide after finding a surplus.
Serious discussions on how to spend that money have now started, and there are two main schools of thought.
One possibility is to give home owners a one-time rebate, and another is to re-invest the cash into other projects.
Mayor Naheed Nenshi says he wouldn’t be opposed to giving the money back but adds council needs to think very carefully about it before making a decision.
Tuesday, Councillor Ward Sutherland told 660 NEWS he hopes the money can help keep property taxes low.
Councillor Evan Woolley has said in the past he’d like to see a small business tax rebate, and maybe a resiliency fund for arts and culture.
Another option is just stowing it away in the city’s rainy day fund, which is now close to $375-million.
