St. Albert city council has approved taking an additional $300,000 from a city savings account to pursue an infrastructure opportunity.
During their Feb. 7 meeting, council went in camera to discuss a corporate business plan matter. According to the meeting’s agenda, council held their discussion in private because the conversation could affect the city’s competitive position and/or interfere with contractual or other negotiations.
After returning to the public, Coun. Ken MacKay made a motion to approve taking up to $300,000 from the city’s stabilization reserve for the infrastructure investment opportunity.
“I think this is a potentially exciting opportunity for the city,” Coun. MacKay said when commenting on the motion.
Reached Tuesday, Coun. Mike Killick said he could not speak further about the investment opportunity because the council session was held in camera.
"As you can imagine, the city is investigating all kinds of different opportunities to get new sources of revenue rather than just tax revenue," Killick said.
In March of 2021, council voted to withdraw the same amount of money from the stabilization reserve. At that time, council also met in camera to discuss a corporate business plan matter, coming out of camera to make the motion to withdraw the funds.
Like Killick, Coun. Sheena Hughes said she is unable to speak more about the investment opportunity and whether it is connected to the earlier withdrawal of funds, due to the in-camera nature of the discussion.
"We're expecting to share more information with the public later on this year," Hughes said.
City spokesperson Cory Sinclair said the funding approved at both meetings “is to enable the city to pursue opportunities in alignment with council strategic priorities for infrastructure investment.”
“This work includes exploring alternative servicing and other business and operating models that can minimize the need for tax increases and deliver better value to St. Albert businesses and residents,” Sinclair said in an email.
Mayor Cathy Heron and interim chief administrative officer Kerry Hilts did not respond to The Gazette's interview request Tuesday.
Instead, city spokesperson Amy Nastase responded that administration is exploring business and operating models that could provide better value to St. Albert businesses and residents in alignment with council's strategic priorities.
"The city continues to work through the details of options being explored," Nastase said in an email Tuesday. "If any of the options result in recommendations for council action, the matter will appear on an open council agenda with public notice and background information provided, and an opportunity for anyone to make written or verbal submission before any council decision is made."
As of Feb. 11 the amount left in the city’s stabilization reserve was $720,340. Sinclair said this amount takes into account the 2022 approved budget motions, the release of the $944,000 dedicated to the waste-to-energy pilot project, and the $300,000 commitment.
On Feb. 14, council voted to transfer a projected $3.9-million year-end surplus to restore the reserve. This transfer will bring the reserve balance to $4.6 million, Brenda Barclay, city manager of financial operations and reporting, said during the meeting.
