By Josh Hall (Twitter: @Vancan19)

10-year objectives

Lacombe approves $79.7 million Capital Plan

Nov 24, 2021 | 1:04 PM

Lacombe city council has approved an updated 10-year Capital Plan.

The estimated value of the plan for 2022-2031 is $79.7 million.

It identifies potential funding sources, including third-party debenture borrowing, grants, and reserve contributions.

“Lacombe city council believes prudent, long-term fiscal planning is key to good governance,” Mayor Grant Creasey said. “The annual approval of the 10-year Capital Plan allows council to ensure the long-term needs of the community are considered and budgeted for.”

Significant projects in the 10-year Capital plan include:

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1. Public Works Building – $9 million
2. Roads Renewal Program – $28 million
3. Aquaplex Facility Upgrades – $3 million
4. Fire Hall – $5 million
5. Fire Ladder Truck Replacement – $1.7 million
6. New water reservoir and decommissioning of Pumphouse B – $8 million

The 10-year Capital Plan is updated every year during Capital Budget debate.

Meantime, Capital and Operating budgets will be debated Dec. 6. The proposed allotment for 2022 is $10.25 million.

The proposed tax rate increase is 2.7 per cent.