REGINA — Regina city council will revisit a series of financial decisions that could affect transit riders, the future of the city’s central library and funding for a new aquatic facility at their next meeting on Wednesday.
Transit fare increase
City council will once again decide whether to increase transit fares by mid-April.
Approved in the budget, all transit fares are set to increase by 10 per cent. This means a single adult/youth/senior fare would cost $3.50 (up from $3.25), while a monthly pass would cost $97 (up from $88).
The bylaw to introduce the new fares came to council two weeks ago, but Ward 8 Coun. Shanon Zachidniak requested more time before a decision.
The transit fare increase would offset $585,000 in revenue for the city. However, because council delayed its decision, the city now has to find roughly $36,000 more in revenue.
Central library project update
The Central Library Renewal Project (CLRP) could be facing years of delay.
In 2024, council approved between $92 million and $119 million in debt funding for Regina Public Library’s plan to construct a new central branch, as the current building requires constant repairs due to aging infrastructure.
A new motion suggests the city should continue approving a 5.5 per cent dedicated mill rate for the CLRP until enough funding has been accumulated or sufficient debt becomes available.
The city intends to prioritize debt for water, wastewater and transportation capital projects once additional room becomes available under Regina’s debt limit. That could push the CLRP to the back burner and increase total costs due to inflation.
Debt for aquatic facility
A dedicated mill rate for debt covering the Indoor Aquatic Facility (IAF) and Geothermal Heating Facility (GHF) has been proposed for the 2027 and 2028 budgets.
The city is recommending a dedicated mill rate of 1.61 per cent in 2027 and 0.30 per cent in 2028 to cover $155 million in long-term debt acquired this year.
“The pricing for the $155 million bullet debenture for 30 years is 4.7 per cent,” notes the report.
The indoor aquatic facility is scheduled to open in 2029.
