Quote:
Originally Posted by Wooster
Part of the purpose of the plan is to try and attract funding. If other levels of government do not have a clear idea of what the City's vision, it is hard for them to support funding it, particularly at this magnitude. See what happened with TransitCity in Toronto, it was able to attract billions of dollars in funding committments.
The City is also in City Charter negotiations with the Province, which includes conversations about long term capital funding needs (parhaps something like extending the MSI program permanently or letting the City keep all property taxes for its capital purposes). It's important that this plan is on the table, so that they understand clearly what the City's needs are.
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I think it's a good goal to set for the medium term. By no means is this all the investment Calgary will ever need, nor would Calgary slip into hell if it didn't play out that way. 13 B by 2040 is somewhere in the neighbourhood of 500 million/year to sustain with kind of development beyond 2040. I'm aware that we can mortgage this over the next half century, but there will be other things we'll need then too.
Who should pay for it? $500/year from every man, woman, and child for 25 years? Half that much for 50 years? Half from the province? All from the province?
I am 100% behind the plan, but I can't see it happening without a new tax at some or multiple levels. Yes, it will be cheaper in the long run than building roads and everyone buying cars, but we inevitably will have to commit more of our wealth to social infrastructure. Plebiscite? Sales tax? more gas tax? Increased resource royalties? More government income tax? Alberta has the lowest taxes in the country, and I think we can afford to invest more without totally losing our competitive edge.