Recorded vote

That Mayor Nenshi’s Motion, Green Sheet: The Community Economic Resiliency Fund, be adopted, as follows: WHEREAS Calgary is facing an economic downturn; AND WHEREAS savings and efficiencies have resulted in the City of Calgary having a 2015 surplus, estimated at $30 million; AND WHEREAS these are one-time funds and are unlikely to be achieved in 2016 and beyond; AND WHEREAS these funds would normally flow into the Fiscal Stability Reserve at year￾end; and AND WHEREAS Council has expressed a desire to respond to the current downturn; NOW THEREFORE BE IT RESOLVED that $30 million from the estimated 2015 surplus be transferred to a newly created Community Economic Resiliency Fund within the Budget Savings Account and that the fund be allocated to a Community Economic Resiliency Fund as follows: 1. Up to $8.8 million to freeze all Calgary Transit fares at 2015 levels as of January 1, 2016, for the duration of 2016, with the exception of adult bus passes, which will be increased to $103 for January 2016 only, reverting to $99 starting in February. Previously planned-for increases will still take place in 2017, pending Council’s approval of the 2017 operating budget;