October will be an Important Month for Edmonton

We like sharing positive news.  We also know people like reading positive news, as demonstrated by last week’s post about the proposed Eagle Spirit Energy pipeline already becoming one of our most read articles of the year1.  We also received a lot of messages and comments about it.  Some positive, a few less positive, but mostly feedback from people who were surprised they had never heard of such an impressive project.

Sharing news that can influence Edmonton’s commercial real estate market is one of our main objectives with our blog.    In addition to disseminating market information, we are also proud to advocate for businesses and commercial property owners in Edmonton.  To that extent, Chad has been involved on both the steering committee and as a spokesman for Prosperity Edmonton.  The objective of the group is straightforward, but direct:

“[To] urge Edmonton City Council, in its upcoming budget, to hold the line on spending and work harder to find efficiencies to fund new priorities rather than resorting to tax increases.”

Prosperity Edmonton is in the process of releasing a number of videos that focus on business owner’s in Edmonton who are concerned about continually rising property taxes, and the effect it’s having on the overall prosperity in the city.

This week featured Dr. Karima Merali, owner and chiropractor of Serenity Health and Wellness Chiropractic Massage and Acupuncture Clinic.  Dr. Merali says she loves Edmonton, but the rise in property taxes is making it difficult to sustain her business.  She questions whether there is a breaking point in which she is forced to close down her business.

[embedyt] https://www.youtube.com/watch?v=H-v10HIX42M[/embedyt]

As a spokesman for Prosperity Edmonton, Chad has been honoured to do a number of media interviews to address the concerns of the business community.  This included an interview on the Ryan Jespersen Show2 last week, where he was joined by Dan Eggert of Melcor.  Here are a few of the highlights from the interview:

– We’re not suggesting austerity measures or that we go back to 1990’s tax cuts.  Instead, we are proponents of infrastructure spending and core services.  Find some savings and inefficiencies so we don’t have to keep raising taxes.
– The City needs to live within its means, no different than a household or a business.
– We would request that the Mayor (and Council) treat this issue as something that effects all of Edmonton.  Don’t hurt one group just to help another.  If the City is able to trim spending it will help everyone in Edmonton.
– Our City looks a lot different and is a lot better than it was 6-7 years ago, but that has come at a cost.  Our message to the Mayor and Council is to keep doing the excellent work they’re doing and keep improving the City, but just do it responsibly.

So why is October so important?

The City of Edmonton is working on a setting a 4 year budget cycle.  The proposed Operating Budget for 2019 – 2022 is set to be released on November 1st with a presentation to City Council on November 7th.  Councillors may ask questions, hear reports and deliberate the rest of the month, with the vote for the budget likely coming near the end of November or early December3.

This October, let’s continue emphasizing the importance of this issue.  We would encourage you to check out Prosperity Edmonton, sign up for the newsletter and share the videos across social media.

We’re proud to be part of the work done so far, but we need your help to keep the conversation going.

 

 

 


Notes:

1 Yes, we just plugged another one of our posts in the opening paragraph of a new post.  It’s one of the perks of not having an editorial board.  Plus we’re shameless marketers at heart.

2 Chad’s co-worker told him he has a face for radio.  He’s still hoping for a Jespo Mug.

3 The key dates for the 2019-2022 Capital and Operating Budgets, which may change, have been provided by the City in the following attachment.

Our Team

Chad Griffiths

Chad Griffiths

Partner, SIOR, CCIM

Chad is a partner with NAI Commercial Real Estate and focuses on the Greater Edmonton area. Chad entered the industry in 2004 and has completed over 400 commercial transactions with clients ranging from small, local companies to large institutional owners. Chad has been a top 15 producer with NAI Canada-wide since 2013.

Ryan Brown

Ryan Brown

Partner, BCom, SIOR

Ryan is a partner with NAI Commercial Real Estate in Edmonton and is currently ranked nationally as one of NAI's top advisors. Having executed in excess of $100 Million worth of sales transactions and over 2 Million square feet of lease transactions, Ryan has developed a firm understanding of asset evaluation and an aptitude for building design, functionality, and long-term practicality.

Darcie Bouteiller

Darcie Bouteiller

Associate

Darcie is a licensed Commercial Real Estate Agent in the Province of Alberta with a focus on the Edmonton market and its surrounding areas. Darcie accomplishes custom solutions for her clients through her personable nature and results driven attitude. Darcie can help if you are looking to invest in commercial real estate or are looking for representation for a sale or lease transactions.

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