Calgary, AB,
10
February
2015
|
04:05
America/Denver

Leading Calgary Through Economic Change: six strategies to keep Calgary strong

Calgary, AB, 2015, February 10.

Today, Calgary City Council received The City’s plan “Leading Through Economic Uncertainty” which details Administration’s strategies and actions in response to the recent economic downturn related to low oil prices – and to prepare for success in Calgary’s recovery.

Presented by Action Plan manager Sarah Woodgate, and supported by City Manager Jeff Fielding and other members of City senior leadership, the clear message is that The City of Calgary is in a strong position to deliver continued services in 2015-2016, based on sound financial management, a committed workforce and projections of long-term growth. The plan outlines an approach to build on these strengths and create new opportunities for Calgarians during this time of economic change.

In particular, six strategies and 24 key actions were outlined that touched upon all aspects of City finances, operations and capital investment. Working across the entire City corporation, the following six strategies will focus The City’s response and recovery as economic circumstances evolve in 2015:

  1. Continue to provide service delivery to Calgarians.
  2. Focus on ensuring value for money in service delivery.
  3. Monitor, understand and respond to changes in City finances.
  4. Proceed with strategic infrastructure investment.
  5. Work with local partners and government to understand what is required in the short term.
  6. Create a more resilient local economy with a focus on long-term outcomes.

In order to deliver these, key actions include:

  • Maintain service levels in 2015 by implementing The City’s  Action Plan 2015-2018.
  • Continue to focus on savings including the creation of an Investment Savings Account as well as ongoing work to find new efficiencies through zero-based reviews.
  • Review and prioritize City capital projects that help Calgary catch up with growth, offer job creation opportunities and gain cost advantages.
  • Provide new opportunities to create employment and expansion of Calgary’s economic base by  investing in City owned Transit-Oriented Development areas, as well as launching new approaches for development approval processes for projects that align with The City’s strategic economic plan.
  • Utilize City assets, such as industrial lands, to provide opportunities for businesses to expand and locate throughout the City.
  • Undertake the strategic use of long-term debt and/or liquidity financing to take advantage of lower prices & availability of workforce to deliver capital projects.

Going forward, City Administration will bring forward a proposal to Council for an investment savings account for consideration in Q1. The City will further develop the strategies identified above and bring back to Council an update to the report in early Q2. 

Please download “Leading Through Economic Uncertainty” and today’s presentation (provided as attachments to this news release).

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