The twinning of Highway 566 near Balzac just got a bit more expensive for Rocky View County (RVC), after staff reported to RVC council during the May 23 meeting that the work was going to cost $2.8 million more than initially budgeted.
According to RVC's report on the matter, the budgetary shortfall is largely a result of inflation since the original budget approval, and higher-than-expected costs for land acquisition and construction.
The County was already on the hook for 75 per cent of the project’s cost, amounting to just under $12.4 million. The Alberta government was picking up the other $4.1 million.
During last week's meeting, Division 1 Coun. Kevin Hanson asked RVC staff whether the province was going to potentially help the county with some of the overage.
“Is the province also picking up their 25 per cent share of the overage?” he asked? “Or is that 100 per cent on our backs?
“Because of the recent (provincial) announcement on the funding for the interchange at Highway 2 and Highway 566, for about $160 million,” responded Jeanette Lee of RVC capital and engineering services, “at this time Alberta Transportation and Economic Corridors is not willing to fund any additional money toward this (twinning).”
“That’s what I thought I was reading between the lines on the report,” replied Hanson. “Thanks for the confirmation.”
The $2.8 million will be drawn from the County’s reserves, with $2.75 million coming from the Transportation Offsite Levy Reserve, Special Area 1 Tax Stabilization Reserve and an additional $505,000 coming from future transportation levies.
Work on the twinning project is expected to begin in June and continue until spring 2024.
