City Council supports long-term financial framework, further economic development initiatives

Lethbridge City Council has a broad mandate to provide good governance, to develop and maintain a safe and viable community and to supply desirable and/or necessary services to the community.

To promote those ideas, Council, at its regular meeting today, supported two Official Business Motions: one regarding Long-Term Financial Sustainability Framework and the other focused on Economic Development Research and Support. Both items were co-sponsored by Councillor Jenn Schmidt-Rempel and Councillor Belinda Crowson.

As part of the approval for the sustainability framework item, Council has directed City Administration to formalize the longstanding financial principles and practices that guide the organization in making financial decisions, while also allowing for flexibility for future Councils to achieve their strategic vision.

“A municipality functions at its fiscal best when it operates within a framework of well-planned and implemented financial policies,” says Councillor Schmidt-Rempel. “These programs and policies guide the City towards achieving its vision of being healthy, attractive and economically viable.”

Administration will present the new Long-Term Financial Sustainability Framework to Economic & Finance Standing Policy Committee for consideration by the end of Q1 2026.

As part of the Development Based Initiatives project, Administration is developing an updated Economic Development Strategy for the City of Lethbridge – which will include considerations identified in the closed workshop conducted with Economic & Finance Standing Policy Committee members on Thursday.

“Having an up-to-date Economic Development Strategy is essential to provide clear direction to Administration and our service providers,” says Councillor Crowson. “Fostering the economic development of the municipality is one of the purposes of the municipality.”

As part of the OBM approval, Council has directed Administration to prepare a presentation for the July 10 Economic & Finance SPC meeting. It will include identification of the need for any temporary resources to complete and implement the strategy, as well as other potential development-based incentives as directed from the closed-session workshop.

The City’s fee-for-service funded partners, Economic Development Lethbridge and Tourism Lethbridge, will also be invited to attend the July 10 meeting.