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Headlines: Dec. 6, 2024

· The Pulse
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  • After four days of debate, Edmonton city council approved adjustments to the 2025 budget, voting 8-4 for the operating budget and 11-1 for the capital budget. Mayor Amarjeet Sohi said changes made through his 11-part omnibus amendment, which draw money from other sources to reduce the tax increase, respond to affordability issues while protecting essential services. The adjustments set a 6.1% property tax increase for next year, down from the proposed 8.1%. The average Edmonton property owner will pay about $813 in taxes for every $100,000 in assessed home value in 2025, about $47 more than in 2024.
  • Canada Place in downtown Edmonton closed on Dec. 5 due to flooding and water damage, and Service Canada says its two offices in the building will be closed until Dec. 9. The Service Canada passport office in Canada Place is the only location where Edmontonians can request urgent or express passport deliveries. Canada Post delivers passports in 20 business days but isn't currently an option due to the ongoing strike. The closest Service Canada branches that provide passports in 10 business days are in Red Deer and Calgary.
  • The City of Edmonton is encouraging residents to try minimizing holiday waste, when Edmontonians produce nearly double the waste compared to the rest of the year. Tips include using the WasteWise app to learn how to properly sort waste, buying locally sourced gifts, or getting gifts from reused materials at the Waste-Less Holiday Market at the Reuse Centre on Dec. 14. Batteries, broken Christmas lights, and other items that can hurt workers should be disposed of at Eco Stations. More tips are available online.
  • Generational wealth transfer from baby boomers to millennials and Gen Z is affecting the Edmonton real estate market, according to Drew Carlson with eXp Realty. Inheritances can allow some young people to enter the market or become landlords, and some get sizeable gifts from parents who are still alive but downsizing, said Carlson. In Edmonton, a gift of $200,000 would cover about 47% of an average-priced $428,959 home. Under a 25-year amortization period with a five-year, fixed rate of 3.99%, this would mean a $1,203 monthly mortgage payment, according to a report on wealth transfer by Zoocasa.
  • Royal LePage predicts that home price appreciation will return to normal longterm trends in 2025, although Edmonton will see a "much more aggressive" increase than most of Western Canada, after unprecedented sales volumes in 2024. Edmonton is forecast to see a 9% rise in aggregate home price year over year in the fourth quarter of 2025, compared to the national average of 6% and Calgary's 4%. In the same period, the median price of a single-family detached home in Edmonton is expected to rise 12%, and the median price of a condo is expected to rise 8%.
  • Edmonton Centre MP Randy Boissonnault, who recently left his cabinet position after criticism for his shifting claims of Indigenous identity, testified that he is not Indigenous before a House of Commons committee. Boissonnault has been described as Indigenous in public communications from the Liberal Party. Postmedia reported that a company Boissonnault founded before becoming an MP described itself as fully Indigenous-owned to apply for grants designated for Indigenous businesses, but the bids were unsuccessful. Boissonnault said his former business partner Stephen Anderson used his name without consent.
  • The Edmonton Arts Council announced the recipients of this year's Edmonton Artists Trust Fund awards, which help provide financial stability to artists as they "renew, develop, create, or experiment." A total of 20 Edmonton artists will receive $15,000, for a total of $300,000. The list of recipients is available online. The trust fund is held by the Edmonton Community Foundation.
  • Postmedia published a deep dive on the recent financial struggles facing the Edmonton Elks, and why the team was sold in August to private owner Larry Thompson. Postmedia reported that Thompson was told the team will lose $3 million to $4 million annually for at least three more years, after the team lost $16.6 million over the past four years.
  • The provincial and federal governments signed a bilateral agreement to improve access to drugs for rare diseases. An initial investment of $162 million over three years will support access to three drugs — Poteligeo, Oxlumo, and Epkinly — along with diagnostics and screening. The governments are still working on an agreement for the federal dental plan and pharmacare, Postmedia reported.
  • Alberta Municipalities released a statement expressing concern over the province's decision to stop funding the Edmonton Metropolitan Region Board and the Calgary Metropolitan Region Board, and to make participation on the boards voluntary. The association says the decision will undermine economic competitiveness in the regions and hinder collaboration efforts.
  • An Alberta government bill that proposes changes to the Freedom of Information and Protection of Privacy Act has received three readings and now awaits royal assent, even though the province's privacy commissioner Diane McLeod expressed concerns about transparency and privacy protection. The bill creates new exemptions for which documents can be provided to the public, including documents or communications created by or for the premier, ministers, or the Treasury Board, CBC reported.