AB Economic Fundamentals 2008-07

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Council wants to tweak NAIT LRT extension route

EDMONTON - After hours of debate and hearing concerns from Central McDougall and Queen Mary Park residents, council sent a proposed concept plan for the north LRT extension line back for tweaking Tuesday.

Council wants the city`s transportation department to produce a concept that will see the LRT line run on 105th Street between 105th Avenue and 108th Avenue, instead of going down the back alley as was recommended.

Central McDougall and Queen Mary Park residents had wanted the line to go under 104th Street between 105th Avenue and 108th Avenue in a shallow, roofed-over tunnel, saying it is more compatible with the area redevelopment plan.

http://www.canada.com/edmontonjournal/news...94-92198fbd61d5

 

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WestJet link to Southwest boosts stock

CALGARY - Southwest Airlines Co will start a codeshare partnership with WestJet Airlines Ltd., marking the No. 1 U.S. domestic carrier`s first foray into the Canadian market and a key boost for WestJet`s expansion plans and its stock.

Under the agreement, which will be put together by late next year for regulatory approval, the two airlines will sell seats on each other`s flights, which means both get access to new customers with lower marketing costs.

WestJet shares rose $1.35, or 11 per cent, to $14.04 on the Toronto Stock Exchange Tuesday. The stock had dropped 19 per cent in the 12 months before the agreement.

http://www.canada.com/edmontonjournal/news...cb-8af1162477c0

 

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Firm paints rosy nuclear future

EDMONTON - A Peace River nuclear power plant would create about 2,700 long-term jobs and $280 million annual labour income for the area, Bruce Power Alberta says.

The 10-year site preparation and construction period alone would generate $12 billion for the Alberta economy, and $7.3 billion for the region, according to a preliminary study commissioned by the Ontario-based company.

There would be about 1,900 full-time jobs at the plant, and 800 indirect jobs in the region, it says.

http://www.canada.com/edmontonjournal/news...13-249ee9dbfa26

 

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City wants chunk of transit cash

It was only minutes after the Tories announced a $2-billion public transit fund that Mayor Dave Bronconnier was making his pitch for a good chunk of the cash.

Armed with details from city officials, Bronconnier -- who was picking up Transportation Minister Luke Ouellette from the announcement to go to the Calgary Stampede -- told Ouellette the city has ideas on how it could use the money.

It was an early sign of the likely stampede to provincial officials with proposals to get some of the funding Ouellette and Premier Ed Stelmach announced Tuesday.

http://www.canada.com/calgaryherald/news/s...54-9e21e51de073

 

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Calgary still has right stuff for investors

There may be economic uncertainty in other parts of Canada and the world, but Calgary continues to be an attractive place for investors.

Statistics compiled by commercial real estate firm CB Richard Ellis indicate Calgary is well on its way to surpassing last year`s real estate investment sales volume.

CBRE`s second quarter 2008 report says investment sales volume year-to-date was $1.65 billion, compared to $2.2 billion for all of last year.

http://www.canada.com/calgaryherald/news/c...aa-46fc81b77801

 

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Ethanol plant popularity slips

The bloom is off the environmental love affair with ethanol.

Most Canadians -- 53 per cent, up from 45 per cent last year -- would now oppose construction of a local ethanol plant, according to the Saint Consulting Group`s second annual national survey of responses to various real estate developments.

However, the opposition in part may also reflect the not-in-my-backyard attitude of Canadians, as an even greater proportion would oppose a casino or a Wal-Mart.

http://www.canada.com/calgaryherald/news/c...53-1f641d919044

 

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Tired of hookers and drug dealers plying their trade in his neighbourhood, Art Sheeler is leaving `The Lawn` after 37 years


For sale: one east Calgary home, c/w excellent view of Forest Lawn hooker stroll. Inquire within.

Art Sheeler knows it`s going to be a tough sell, but he`s getting out nonetheless.

After 37 years of living on the same Forest Lawn corner, watching his working-class street and neighbourhood deteriorate into a cesspool of prostitution, pimps and drugs, Sheeler is finally leaving. "It`s a sad state of affairs, when the slime takes over what people have worked so hard to build," said Sheeler, who plans to place his house on the market next month.

http://calsun.canoe.ca/News/Alberta/2008/0...106471-sun.html

 

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Pay raise for health workers

More than 1,000 David Thompson Health Region employees could sign a deal this summer that would give them a raise of nearly 15 per cent over three years.

After four months of bargaining, a tentative deal has been reached between Alberta`s health employers and the Health Sciences Association of Alberta, affecting about 11,000 employees provincewide.

The current contract for the union employees ended on March 31.

Association spokesman Scott Pattison said the association represents 1,176 employees within David Thompson Health Region.

http://www.albertalocalnews.com/reddeeradv...th_workers.html

 

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Biofuel plant still possible

The Town of Stettler`s loss could be the County of Stettler`s gain.

GreenLab Energy Canada Inc. has applied to the county for approval to develop a biofuel complex.

This comes a few weeks after the company notified the town that it would not be proceeding with the project there.

Johan van der Bank, the county`s director of planning and development, said on Tuesday he couldn`t reveal the location that GreenLab is looking at.

http://www.albertalocalnews.com/reddeeradv...l_possible.html

 

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City applies to province for disaster assistance

Lethbridge residents who suffered flood damage from the Canada Day deluge will have to wait a while longer to find out if the city will be getting disaster relief from the province.
Disaster relief often covers costs that insurance companies won`t. Those who had water infiltration and/or sewer backup are advised to contact their insurance companies first and, if costs exceed what their coverage allows, the application for disaster relief can be made.

http://www.lethbridgeherald.com/article_11326.php

 

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Major park eyed for headlands in north Lethbridge

Where would you build a park — in a prairie wheat field or overlooking a wide river valley?
That`s the question facing Lethbridge park planners and they`re choosing the scenery over the stubble.
That decision will mean revising plans for a major park in north Lethbridge, officials say. Soon they`ll take a new proposal to city residents, seeking their response.
Land development companies may have something to say as well if they`re eyeing new subdivisions in the area. Local school boards may also have an interest in park planning.
But whatever the verdict, planning for the major park is expected to begin next year with construction following in 2010. Yet unnamed, the north`s regional park would complement the city`s two similar-sized facilities — Henderson Lake and Nicholas Sheran — with features that would draw visitors from across the city and beyond.
What would those features include?

http://www.lethbridgeherald.com/article_11322.php

 

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Stelmach defends $4B environmental plan

EDMONTON - Armed with a $4-billion commitment to reduce Alberta`s greenhouse gases, Premier Ed Stelmach hopes to stymie attempts by other premiers to create a national trading system for carbon emissions.

Stelmach believes such a system would unfairly target Alberta.

Climate change is expected to be a major agenda item at the upcoming premiers` summit in Quebec City. Environmental groups will press the politicians to endorse a national action plan.

http://www.canada.com/edmontonjournal/news...33-e4e84026bdd6

 

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Green TRIP may be a fantasy ride

This week, Ed Stelmach announced his very own green surge, a concrete carbon reduction plan designed and timed to overshadow Stephane Dion`s Green Shift road show.

At a news conference in Calgary, the premier announced a glossy $4-billion green action plan.

Half that money will be designed to kick-start an underground carbon-capture initiative.

http://www.canada.com/edmontonjournal/news...f5-c7400cb52d24

 

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Hopes high for Alberta Avenue arts centre

With the ground now broken for the new Nina Haggerty Centre for the Arts, expectations for the area are high.

The $6-million project, being built on 118th Avenue, is seen as a vital part of creating a new look for the Alberta Avenue community.

"I see it as a sort of catalyst for other investors and developers," said Joe Holtz, director of the Alberta Avenue Business Association.

http://www.canada.com/edmontonjournal/news...02-cd58f0d14d0d

 

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Condo owners charged more for drainage

City councillors want the municipal land drainage utility to come up with a plan so condominium owners no longer pay more for building drainage systems than people who live in houses.

On Wednesday, council learned the utility overcharges people living in multi-family residences.

http://www.canada.com/edmontonjournal/news...cd-23503096e102

 

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Improvements to be spread around neighbourhoods

EDMONTON / A new plan to maintain and rehabilitate city neighbourhoods received approval from council Wednesday.

The "hybrid" plan calls for the city`s 80 neighbourhoods in the worst shape to be overhauled at the same time as less needy neighbourhoods get repairs to ensure they don`t slip into worse condition.

"This is the result of council for years not putting money into maintenance," Coun. Kim Krushell said of the $3.4-billion plan.

http://www.canada.com/edmontonjournal/news...3f-2cbd8b9e05cc

 

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Flat fee will replace tax for city waste management

EDMONTON / Residents will pay a flat fee for waste services starting in January after council approved the details and bylaws to turn the Waste Management branch into a utility.

The current system of taxing for waste management by property value will be replaced by a flat rate. The city will see a $14.1-million decrease in taxes as a result, money that will be made up via the fees.

http://www.canada.com/edmontonjournal/news...df-b0c74ce79bfa

 

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Gas well drilling near school halted

Alberta`s oilpatch regulator has temporarily shut down an oil company`s work on a well containing high levels of deadly hydrogen sulphide close to a school near Drayton Valley.

The Energy Resources Conservation Board took the action last week after Highpine Energy announced it planned to immediately resume preparations to drill the well near Tomahawk.

The company had voluntarily suspended drilling operations Jan. 11 after learning that a family living near the proposed well had asked the board to review the licence it granted for its operation.

http://www.canada.com/edmontonjournal/news...61-584cf0462b12

 

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Mortgage rules tightened

TORONTO - The federal government has cracked down on the mortgage industry with new rules that will make it more difficult for consumers to borrow.

The rules which take effect Oct. 15 are designed "to ensure Canada`s housing market remains strong and to reduce the risk of a U.S.-style housing bubble developing in Canada," the federal Finance Department said in a news release.

One of the key measures the government has introduced is a stipulation that insured mortgage products not have an amortization period that is longer than 35 years. In the past two years, the amortization period has stretched from 25 years to as much as 40 with some people suggesting a 50-year amortization was soon to come.

http://www.canada.com/edmontonjournal/news...45-dc6845f32297

 

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Housing starts drop for 12th month

EDMONTON - Construction of new single detached houses fell in June, marking the 12th month in a row that building starts declined, Canada Mortgage and Housing Corp. said Wednesday.

"New construction continues to be hampered by weaker migration and elevated levels of supply in the resale and new home markets," said Richard Goatcher, CMHC`s senior market analyst for Edmonton.

Builders in the Edmonton census metropolitan area started work on 244 houses last month -- down 71 per cent from 838 starts in June 2007. Starts fell 68 per cent over the first half of 2007 -- from 4,266 to 1,354.

http://www.canada.com/edmontonjournal/news...94-7fceeef0bdf6