Mayor Naheed Nenshi says there is an extra $54M in cash in Calgary’s coffers, and he is looking for the public’s input on what to do with it.
The money apparently comes from the city’s fuel savings and a number of job vacancies that haven’t been filled.
Overall, it’s resulted in $86M extra for the city, but $32M of that is already going towards blunting the blow of property tax for all homeowners.
There are a few options for what to do with the remainder, including giving it back to Calgarians, dropping property taxes even further, but that would be a one-time opportunity.
The money could also be put away into the city’s account and saved, but many are saying that with the way the economy is right now, now is a good a time as any.
A third choice would be to invest it into a city project that’s been needed for a while, such as building an interchange or a needed fire hall.
Calgarians have their own ideas about what to do with the money, including road maintenance and upgrades.
Some of the other ideas included helping the homeless and putting it to work in communities across Calgary.
The city is expected to make a decision on what to do with the money by the summer.
