Regina can't afford to build catalyst mega-projects all at once, but delays will also be costly
CBC
As Regina begins the process of deciding which mega-projects it will build that could help shape the city's downtown for decades to come, it's encountering a pair of familiar problems: time and inflation.
The City of Regina simply cannot build all of the projects that its catalyst committee has recommended at the same time.
"If we'd made some of these decisions years ago, we'd be in a better place as a city," said Tim Reid, CEO of Regina Exhibition Association Limited, and co-chair of the catalyst committee on Tuesday.
Regina does not have enough money on hand, and this council has made it clear it prefers not to see a significant increase in the city's mill rate.
Regina is also projected to carry $371.5 million in debt by the end of 2023 — a large chunk of which comes from construction of Mosaic Stadium — and the city is facing some tough choices.
That's why a report released last week by the city's catalyst committee recommends that city council begin the process of plotting how and where it plans to build a series of projects over the next 10 to 20 years.
The committee recommends the city construct the projects in the following order:
Experts like Rylan Graham, an assistant professor in the University of Northern British Columbia's school of planning and sustainability, said the report has provoked some interesting conversations.
Graham, who is originally from Regina, says the recommendation to plan out how and when the city construct each of the catalyst projects is sound.
"I think it is an important exercise [and] process to go through. To plan for the future rather than responding, reacting, making decisions in a relatively or much shorter time frame," he said in an interview this week.
However, there will be consequence if council follows that process.
LISTEN | Regina's mayor discusses the work of the catalyst committee so far:
Inflation is continuing to climb in Canada, and the co-chairs of the catalyst committee say there's no indication it will slow down.
The committee brought in a consultant whose analysis shows that if projects are not built until 2025, they could see an increase in costs of 38 per cent.
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