OLDS — The federal budget could provide the town with $550,000 in new funding this year and there could be other funds for various improvements as well, chief administrative officer Michael Merritt says.
It's up to council, in discussions with administrative staff, to deterrmine what that money will be used for.
“The doubling of the federal gas tax (which moving forward will be called the Canada Community Building Fund) should provide the town approximately $550,000 in new funding," Merritt wrote in an email.
“This is the only allocation-based program that we are aware of at this time,” he added.
“Other dollars will likely be allocated by project specific programs/initiatives with eligibility rules that will take some time to be developed. The federal gas tax is a positive announcement that the town can utilize in 2021.”
The federal government also earlier announced $14.9 billion in permanent funding for transit. However, most of that cash isn’t expected to be released for years.
Meanwhile, about $6 billion will be provided to municipalities right away for shovel-ready projects.
The rest will go into a $3-billion-per-year fund. Money from it is expected to be distributed on a project-by-project basis starting in 2026-27.
Town officials were asked if Olds will see any of that money.
“We are hopeful funds for rural transit will be made available to enhance the current Sunshine Bus service, along with funds for broadband, the environment, tourism and economic development,” Merritt wrote.
Merritt said the town has contacted Red Deer-Mountain View MP Earl Dreeshen indicating that all municipalities need to benefit from these programs, not just the big city municipalities.
