Federal budget delivers for the city
The March 21 Federal Budget featured an important step forward for the City of Cranbrook, report senior city officials.
We applaud the government for choosing to continue moving our communities ahead even as it meets its immediate fiscal challenges, the city stated in a press release.
Of particular significance in this context, is the government’s decision to index the Gas Tax transfer at two per cent annually beginning in 2014–2015. This measure alone — the first indexing of a municipal transfer — will ensure the fund keeps pace with inflation and will add another $9 billion to the permanent gas tax fund over 20 years.
“By protecting the purchasing power of the gas tax transfer, and by extending program funding for 10 years, this budget entrenches the principle of long-term sustainable infrastructure funding for Cranbrook,” said Mayor Wayne Stetski.
Another significant change to the Gas Tax Fund is that the scope of eligible projects will be broadened. Eligible projects will now include: highways, local and regional airports, broadband and connectivity, brownfield redevelopment, culture, tourism, sport and recreation.
“The direction from the federal budget lays the foundation for continued intergovernmental collaboration as economic conditions improve to meet the challenges that need to be addressed in Cranbrook. Whether it is wastewater upgrades, roads or other infrastructure replacements, we all need to work together to meet our residents’ needs,” said Chief Administrative Officer Wayne Staudt.