City council voted unanimously in favour of a 3.4 per cent tax increase as they approved the 2014 tax rate bylaw.
This will result in a increase of $4.23 per month for the average residential home and $35.50 per month for the average commercial property in Airdrie, generating an additional $1,255,600 in additional tax revenue.
In accordance with the Municipal Government Act, the City is required to pass an annual tax rate bylaw before they are able to send out tax notices.
The notices will be mailed out to residents to inform them of the 2014 tax rate by May 30.
In conjunction with passing the tax rate bylaw, council also amended the 2014 operating budget to recognize the difference between the actual tax revenue from growth and 2014 budgeted revenue from growth.
With this amendment, $643,100 will be transferred to the City’s general operating reserve.
Construction projects
Airdrie City council was briefed on three major construction projects, one of which has already been completed, and all are on or under budget, according to planners.
Corporate Properties Team Leader Chris Reason provided a report to council on Bert Church Theatre expansion, the Ed Eggerer Athletic Park and the RCMP building in Highland Park.
The Bert Church Theatre expansion was completed on Oct. 10 and came in at a total project cost of $3,455,855, which was $200,000 under budget.
Ed Eggerer Athletic Park is slated for completion on July 31 to accommodate the 2014 Alberta Summer Games.
The project was approved at a budgeted cost of $780,300 and is currently projected to wrap up at $716,000.
“We really got a helping hand from Westmark Holdings and McKee Homes who agreed to providing a gift in kind for the installation of the press box,” said Reason.
Still on the project schedule at the athletic park are some asphalt repairs and the installation of the sports surface at the track expansion areas.
A variety of minor jobs are on the go at the Highland Park RCMP building on the second floor. The project started on Feb. 24 and is anticipated to be completed on July 31.
Jobs like steel studding, drywall installation, electrical and mechanical work are ongoing and the building will require inspection by the City as well as the RCMP.
The original approved budget for the building was $2.5 million, and additional funds for the leasehold improvements to the second floor were secured by the RCMP in the amount of $1.51 million, bringing the project cost to $4.01 million.
Reason says the project is on budget and is projected to finish up at a cost of $4,004,471, with the RCMP Southern Alberta District relocating from Calgary and taking residence on Aug. 1.
