The long-sought continuation of the James Walker Trail is set to begin on May 1 following town council's approval to borrow $17.89 million.
The project will be completed in two sections. The Town of Cochrane will begin construction on its 1.5-kilometre portion in May 2025, with work expected to extend over two construction seasons. At the same time, Qualico Communities will start work on its one-km section in Southbow Landing in June 2025, aiming to complete its portion by the end of the year.
Town Councillor Marni Fedeyko cast the lone dissenting vote—not because she opposes the project, but because she is awaiting an outstanding report on the town's off-site levy bylaw, which is scheduled to be updated.
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Drew Hyndman, Cochrane's executive director of development and infrastructure, said a contractor has been selected, and that delaying the borrowing would have dire consequences for completing the major transportation corridor.
The main sanitary forcemain, which transmits all of the town's sewage to Calgary, is being lowered for the future intersection, and a powerline near Southbow Landing is being relocated.
“The eastern portion that is our responsibility has significant cut and fill,” Hyndman told council. “So the compaction that needs to occur—that's why in the budget we said we would be completed over two construction seasons.”
He anticipates a significant portion of the road will be completed this construction season and that it will be operational in 2026 if everything goes according to plan.
A fourth stage of the project, further down the road, will be determined as demand increases. It involves expanding the current two-lane road from the SLS Centre to River Heights Drive. That, too, would be funded through off-site levies.
The funds are being borrowed over 20 years with principal and interest payments anticipated to be $1,402,630 annually. The current 20-year interest rate from the Government of Alberta is 4.81 per cent but exactly what the town pays won't be finalized until the date loan proceeds are advanced.
The bylaw allows for a maximum interest rate of six per cent to provide flexibility should interest rates rise between the passing of the bylaw and the date funds are borrowed.
Alvin Allim, Cochrane's chief financial officer, said the town's debt would rise to about $66 million or 56 per cent of the town's imposed debt limit, leaving an unused debt limit of $51 million.
