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Fiscal strategy, reports on agenda for Council

Fort McMurray, AB, Canada / MIX 103.7
Fiscal strategy, reports on agenda for Council

Council will be hearing a fiscal management strategy update tonight.

The strategy will provide a framework for future operating and capital budget development.

Assessment, property tax, and debt and debt service are all to be covered along with administrative recommendations.

Although property taxes are to be paid within 30 days of them being mailed out, the RMWB says there will be no penalties on outstanding 2016 property taxes until January 1 of next year.

Two reports will also be on the agenda.

Council will hear the Alberta Wildfire Overview narrative and the closing of the Regional Emergency Operations Centre.

The other report is about the Offsite Levy Subsidy Program.

Administration is recommending the RMWB continue to subsidize the offsite levy rate for all non-residential development within the entire municipality by 60 per cent until December 31, 2018.

Between 2010 and 2016, 15 commercial and mixed use developments benefited from the program.

The rationale for continuing the subsidy is to encourage development in the municipality and since the program has encouraged growth within the lower townsite that could be experienced throughout the municipality.

Council meets tonight at six.

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