Council to consider reduced 2018 Capital Budget
Later this month, Red Deer city council will debate a 2018 Capital Budget worth $81.05 million.
That estimate is the lowest proposed capital budget in 10 years, a sign of the economic times according to City Manager Craig Curtis.
“In recognition of the reduced levels of growth in Red Deer, with a continued reduced rate predicted for the next several years, administration is bringing forward one of the smallest capital budgets we have seen in a decade,” Curtis said. “We recognized the challenges, took a proactive approach, and developed a budget to reflect that.”
Curtis added it’s typical for municipalities to experience a lag in recovery for up to two years after the economy begins to recover.