By The Canadian Press

Province looking at new funding deal for Edmonton, Calgary

Nov 29, 2018 | 4:18 PM

EDMONTON – Alberta is proposing a new deal to fund municipal infrastructure for Calgary and Edmonton.

Municipal Affairs Minister Shaye Anderson has introduced legislation tying future money for those cities to the rise and fall in provincial revenues and to the carbon tax.

Anderson says Calgary and Edmonton need more certainty when it comes to future funding.

Starting in 2022, Calgary and Edmonton would split base funding of $500 million for the first year, then see those funds rise or fall based on provincial revenues.

There would also be a commitment of $400 million a year for rapid transit in those cities starting in 2027, with the money drawn from carbon tax revenues.

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Edmonton Mayor Don Iveson says the proposed legislation would give a degree of certainty to municipalities that have experienced unexpected cuts in funding when provincial revenues drop.

(The Canadian Press)