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Alberta

Alberta gets credit boost because of budget discipline

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News release from the Canadian Taxpayers Federation

Author: Kris Sim

“bringing net adjusted debt to an estimated CAD 57.5 billion in fiscal 2024 (ended on March 31) from CAD 74.6 billion in fiscal 2022”

The Canadian Taxpayers Federation is applauding the Alberta government for its fiscal discipline which earned the province a boost in its credit rating.

“Alberta is one of the only provinces in Canada with a balanced budget, and it shows with this credit upgrade,” said Kris Sims, CTF Alberta Director. “Paying down the debt, restraining spending and saving for the future were very good moves by this government.”

In its most recent budget, Alberta reported a $367-million surplus. That stands in contrast to neighbouring Saskatchewan’s $273-million deficit and British Columbia’s record-breaking $7.9-billion deficit.

The rating agency, Fitch, upgraded Alberta’s credit from AA- to AA this week, highlighting its debt repayment as a key reason for the improvement.

“Alberta used its recent economic rebound to accelerate fiscal improvements and lower its debt, bringing net adjusted debt to an estimated CAD 57.5 billion in fiscal 2024 (ended on March 31) from CAD 74.6 billion in fiscal 2022,” the Fitch report reads.

The agency also cited Alberta’s spending restraint as a reason for the positive outlook.

“The rapid decline in debt and adherence to spending restraint in recent budgets have been complement with last year’s introduction of a fiscal framework requiring balanced budgets, annual contingencies and using surpluses for debt repayment, savings or one-time investment, is likely to bolster future resilience,” the Fitch report reads.

Interest charges on the province’s debt are estimated to cost taxpayers $3.3 billion this year.

“Credit ratings matter because Albertans pay billions of dollars on interest payments on the debt every year, better credit ratings make it less expensive to pay for that debt, and the less money we waste to pay debt interest charges the better,” said Sims.

 

Alberta

Scotia Place – Calgary unveils design for new arena / events centre

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News release from the City of Calgary

Scotia Place, Calgary’s new event centre, designed as a place for community where there is room for everyone

The City of Calgary and Calgary Sports and Entertainment Corporation (CSEC) are excited to reveal the design for Calgary’s new event centre – formally named Scotia Place.

The design is influenced by the ancestral and historical land of Indigenous Peoples and the culturally significant site that embodies our shared purpose – to gather. It brings together Indigenous cultural perspectives with Calgary’s and the region’s natural beauty, reflecting the four elements of nature – fire, ice, land and air.

A striking feature of the building is the central structure with a textured flame motif that emulates a home fire, which is further amplified when it is lit at night. The home fire, a place of warmth and energy that brings people together to share stories of the past and create stories for the future, rises from the white, glacial-like forms that define the lower parts of the building.

“When you consider that Calgary is already the envy of other cities with a new world-class convention centre in the heart of the Culture + Entertainment District, the addition of Scotia Place is another signal to investors that our city understands how to build a future that leverages hospitality and hosting as its core strengths,” says Mayor Jyoti Gondek. “We are also acknowledging and honouring the foundational role that Indigenous communities have played for generations in making Calgary, and now Scotia Place, a space where we all belong.”

Scotia Place, which is scheduled to open in fall 2027, celebrates the area’s importance as a place for all and will be a landmark attraction in Calgary’s emerging Culture + Entertainment District. More than a building, however, the 10-acre city block is designed for community and connection and includes a community rink, outdoor and indoor plazas spaces, four restaurants, the Calgary Flames Team Store, and future development opportunity in the northeast corner. It will provide gathering places and amenities for the 8,000 people who will live in this new downtown neighbourhood.

“Calgary has a long history of hosting world-class events, drawing millions of visitors to the city each year, generating revenue for local businesses, and boosting the economy,” says Danielle Smith, Premier of the Province of Alberta. “With construction on the Calgary Rivers District and Event Centre now underway, Calgary is one step closer to a revitalized downtown that will bring new energy into the city, attract more exciting events, and create jobs to improve the quality of life for Calgarians.”

A development permit application for the facility was submitted on July 19, 2024. This was a significant milestone for the project team, consisting of CAA ICON, HOK-DIALOG, and CANA/Mortenson. People interested in following or commenting on the permit can find the application at Calgary.ca/dmap. The application is expected to be heard by the Calgary Planning Commission by end of 2024.

“This is an important day for Calgary,” says Councillor Sonya Sharp, Event Centre Committee Chair. “Today is about so much more than the designs of a building. Today is the unveiling of a place where Calgarians and visitors from around the world will make memories at concerts, and sport and community events. I hope that everyone is as excited as we are, knowing that Scotia Place will become the complete experience in our new Culture & Entertainment District.”

“At CSEC, a key component of our mission is to be the heartbeat of our community, create connections and bring people together,” said Robert Hayes, CSEC President and CEO. “Scotia Place will become the perfect home to achieve and share this mission with all Calgarians. Seeing the design brings the vision of so many contributors to life. We are especially thankful to the City of Calgary and the Province of Alberta for their leadership and support to help bring us to this point. In stride with our partner Scotiabank, we are very proud to play our role in presenting Scotia Place as the culmination of diligence and passion, that is now visual in this breathtakingly beautiful and meaningful facility.”

“For years we have seen firsthand the value these partnerships bring to the communities in which we operate and for our clients,” said Aris Bogdaneris, Group Head, Canadian Banking of Scotiabank. “Scotia Place introduces a bold new vision for what will be Alberta’s premier sports and entertainment venue. For nearly 20 years, Scotiabank has been a proud partner of Calgary Sports and Entertainment Corporation and together, we are committed to bring fans and our clients an unforgettable experience when they walk through the doors of Scotia Place.”

“We are excited to start the construction of the critical infrastructure needed to build thousands of new homes and to make the Calgary’s new Culture + Entertainment district a reality,” says Devin Dreeshen, Minister of Transportation and Economic Corridors. “Albertans expect basic infrastructure to be maintained and improved and this commitment from the province goes a long way in helping Calgary build these projects.”

Acknowledging the significance of the building’s location at the confluence of the Bow and Elbow Rivers on the ancestral land of the Treaty 7 Peoples and the Metis Nation, The City, CSEC, HOK-DIALOG and CAA ICON worked with an Indigenous Advisory Group that included representatives from the Treaty 7 Nations, the Métis Nation of Alberta, Region 3, and the Urban Indigenous community throughout the design process.

“It was great to be part of a truly representative voice that included all indigenous peoples of southern Alberta regarding the design of this center acknowledging the historic significance of the land it sits on to the Metis people,” said Carmen Lasante Captain of the Calgary Elbow Metis District. “Inclusivity is a core part of who the Metis are. The City has worked hard to include many diverse histories together in creating this space.”

“Engaging in the right way is fundamental to the success of relationship development with the Indigenous communities, as we have played a critical role in the identity of the land now known as the city of Calgary as the Indigenous nations are inextricable linked to the landscape and environment,” says Ira Provost, Piikani Nation Consultation

A key theme heard often during the Indigenous engagement sessions was “Come in, there is room”, making it clear that Scotia Place needs to be a place that is designed for all.

The public plazas are designed to honour the deep-rooted connection that Indigenous Peoples have with the land, incorporating representations of the tipi, Métis Trapper’s Tent, and elements of Alberta’s world-renown natural landscape.

An important design decision was to lower the event and ice surface so that the primary concourse will be at street-level. Calgarians and visitors will be able to move seamlessly between the curb, the primary concourse and the outdoor public plazas.

“We at DIALOG are thrilled to join forces with HOK and combine our unique expertise to transform Calgary’s Event Centre into the catalyst for a dynamic new urban community,” says Doug Cinnamon, Partner Architect at DIALOG.

“Other design principles including public realm activation, the integration of indigenous influences, public art & storytelling, sustainability, and a balance between past, present, and future is central to our vision. The ultimate goal is to ensure seamless accessibility, promote mixed uses, and create vibrant public areas for everyone to enjoy. This joint redesign represents an opportunity to spur investment into the area and enhance its cultural vitality, anchoring Calgary’s position as a thriving, bustling community hub.”

Scotia Place is a generational investment in Calgary’s emerging vibrant Culture + Entertainment District. A modern event centre with universal accessible design throughout and with energy and water conservation built in to maximize efficiencies and the ability to be net-zero by 2050, Scotia place is designed to serve Calgary’s growing community for decades to come.

Construction begins this week. Additional information about Scotia Place including design renderings, a video, and frequently asked questions is available on Calgary.ca/ScotiaPlace.

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Alberta

Jordan Peterson interviews Alberta Premier Danielle Smith

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This episode was recorded on June 29th, 2024

Dr. Peterson’s extensive catalog is available now on DailyWire+: https://bit.ly/3KrWbS8

ALL LINKS: https://linktr.ee/drjordanbpeterson

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