The Town of Cochrane will receive an extra $580,920 in infrastructure capital funding from the provincial government in 2025.
Today, Municipal Affairs minister Ric McIver announced all municipalities will receive 13 per cent more in Local Government Fiscal Framework (LGFF) funding than in 2024.
Cochrane will receive $4,104,262 towards infrastructure projects, up from $3,523,342 this year.
It comes at a time when municipalities are preparing their budget estimates for 2025.
The increase is based upon growth in provincial revenues between 2021-22 and 2022-23 and makes $820 million available to Alberta communities.
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Cochrane's allocation of funding is determined by a formula based upon population (65 per cent), tangible capital assets (15 per cent), amortization of tangible capital assets (10 per cent), and kilometres of local roads (10 per cent).
The Alberta Mid-sized Cities Mayor's Caucus, chaired by Cochrane Mayor Jeff Genung has been advocating a fairer funding model that incorporates growth (or decline) in provincial revenue.