If Council decides to green light all of the recommended debt-supported projects, are we still within our tolerances when it comes to debt? How bad would the situation become?
The City of Edmonton has a debt policy that is even more conservative than the Municipal Government Act allows. As of June 2018, we’re at about 50 per cent of our debt limit. As we go forward, we need to make smart investments with the debt room we have left. Debt can allow us to take advantage of partner funding, for example, and accomplish big things for Edmonton. This is how the Yellowhead will be converted to a freeway and how LRT expansion will continue. A lot of our debt limit will be taken up with those city-building projects and Council will have difficult decisions to make about how to get the most from the debt room we have left.
For anyone who’s interested in learning more about debt at the City of Edmonton, this white paper is an excellent place to start.
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