Airdrie City Council has approved borrowing $97.4 million to fund the Southwest Recreation Centre, upgrades to the city’s sanitary infrastructure, and the purchase of new fire vehicles and equipment.
According to council documents, "The operating impact of the debt servicing payments for the above projects were included in the 2025 approved budget. There is no additional impact to residents."
Bylaw B-01/2025 allocates $89.99 million for the first phase of the Southwest Recreation Centre, which will serve the community for more than 40 years. The loan will be repaid over 20 years at an interest rate capped at 10 per cent.
The 2025 operating budget totals $228.8 million, including a 4.74 per cent municipal tax increase, resulting in a net increase of $85 per year for the average household.
Council members agreed this is likely one of the largest borrowing bylaws to date.
During today’s meeting, Mayor Peter Brown remarked on the significance of the borrowing, saying, "It’s just quite significant from where we used to be to pay for things and where we are in 2025 – is just staggering."
The motion passed unanimously.
Bylaw B-02/2025 allocates $6.85 million for upgrades to Airdrie’s sanitary infrastructure, including improvements to the Sierra Springs and South Regional Lift Stations and a new connection to the Main Lift Station. The loan will be repaid over 15 years.
Bylaw B-03/2025 authorizes $548,648 for new fire vehicles and equipment, ensuring Airdrie’s emergency services remain fully equipped. The loan will be repaid over nine years, with the equipment expected to last 12 years.
As of December 31, 2023, Airdrie’s total debt stands at $65.1 million. After these borrowings, total debt will rise to $164 million, well below the provincial debt limit of $320.6 million. Debt servicing costs are currently $8.6 million annually, well within the $53.4 million provincial cap.
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