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Lethbridge City Council boosting access to emergency funds by $50 million

Lethbridge City Council has voted to substantially increase its access to emergency money.

The City line of credit borrowing is being boosted by $50 million to cover any needs as the COVID-19 health crisis continues.

On Monday (Apr. 6) Councillors approved, in a 7-2 vote, to increase that borrowing power from 10 million to $60 million.

Councillor Rob Miyashiro says we don’t know how this pandemic will impact the region from one day to the next, so Council felt it was a prudent step in order to be prepared for the future.

Mayor Chris Spearman echoed those sentiments saying the City of Lethbridge needs to be in a position to be able to help residents and local businesses where it can. “We know that many families may not have the means to make their regular household payments right now so we have to be financially stable enough to withstand those changes.”

Two weeks ago Councillor Joe Mauro raised concerns around boosting the City’s borrowing capacity, saying it was too early to go down this road. “From my perspective, I don’t see why we need to react with a $50 million increase to our line of credit.” Mauro feels the City should wait instead to see how the provincial and federal governments react once the pandemic is over.

The bylaw approved Monday comes into effect immediately.

Patrick Siedlecki
Patrick Siedlecki
Pat has been a mainstay in the CJOC News department from the time the station launched in 2007. He's been in the position of News Director since then and has been anchoring daily news casts as well as reporting and working behind the scenes. Community is important to him and keeping CJOC listeners and readers informed about what's happening across southern Alberta and beyond. Pat has been in radio broadcasting for the past 24 years, starting in Port Alberni on Vancouver Island in 1997 and then moving up island to Nanaimo for another few years before heading to Lethbridge in 2007. Pat grew up in the small Saskatchewan farming town of Foam Lake. After high school, he went to Western Academy Broadcasting College (WABC) in Saskatoon prior to moving to the island. Pat also spent several years broadcasting hockey in the BCHL as well as seven years as the radio voice of the Lethbridge Hurricanes in the WHL. Pat has been working at Cornerstone Funeral Home in Lethbridge as a Certified Life Celebrant and Funeral Assistant since 2016. News and sports have always been Pat's passion from the time he was a teenager and he's always been grateful to have had the opportunity to make that part of what's been a fun and long radio career!
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