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.