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Edmonton’s business leaders calling on city council to try and get their financial house in order, as property owners will be contending with a property tax hike.
“I’m worried if we don’t do something now, how far along do we get where were at a point like detroit where we have to declare bankruptcy,” said Doug Griffiths, President & CEO, Edmonton Chamber of Commerce.
While Edmonton may not be in the same dire financial straits as infamous Detroit Michigan, the head of the group representing the city’s businesses penned a letter to Edmonton’s mayor and city council. The letter read that city leaders should refocus and restructure when it comes to the city’s budget, especially as edmontonians look at a potential 8.1 per cent property tax increase next year.
“The things that are critical and necessary for a city to do: the potholes and the snow clearing. There are things that are important for the city to do, but not life and death matters– like downtown investment,” said Griffiths.
Mayor Amarjeet Sohi wouldn’t respond to the Detroit comparison. Instead, claiming he and councillors are working on a plan to lower the proposed property tax increase. He wants the chamber to scale back its request for money
“I also encourage them to be prudent as well. Because they’re also asking us to invest almost a billion dollars into downtown — that we don’t have,” said Amarjeet Sohi, Mayor of Edmonton.
Edmonton’s business community has a number of recommendations for city council ahead of budget time. What are they calling for before budget deliberations.