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Lacombe City Council has approved Capital Plan.

Lacombe City Council has approved the 10-year Capital Plan.

The plan, which outlines Council’s future capital priorities and also identifies potential funding sources, including third-party contributions, debenture borrowing, grants, and reserve contributions was approved Nov. 22.

“Lacombe City Council believes prudent, long-term fiscal planning is key to good governance,” Mayor Grant Creasey said. “The annual approval of the 10-year Capital Plan allows Council to ensure the long-term needs of the community are considered and budgeted for.”

The estimated capital expenditures represented in the proposed 2022-2031 Capital Plan are $79.7 million.

The document does not authorize capital spending, only the Capital Budget may do so but the plan does meet provincial and federal requirements for multi-year capital planning.

Significant projects in the 10-year Capital plan include:

Public Works Building – $9 million

Roads Renewal Program – $28 million

Aquaplex Facility Upgrades – $3 million

Fire Hall – $5 million

Fire Ladder Truck Replacement – $1.7 million

New water reservoir and decommissioning of Pumphouse B – $8 million

The 10-year Capital Plan is updated every year during the annual budget process.