City pursues low-interest loan, grants for electric bus fleet yyc yyccc
. That deal needs to be done before the end of 2022 or the city will run the risk of higher interest rates.“Those decisions have not yet been made by the federal government, but we have to indicate that we’re willing to receive the funds because we made an investment as well,” said the mayor.
The city has budgeted $100 million of municipal funds for the purchase of the new buses, including $80 million in approved capital funding from the recent budget and another $20 million from the city’s centralized climate fund.Article content It is also looking for grants of up to $223 million from the federal government’s Zero Emission Transit Fund.
The report that committee will receive on Wednesday has answers to questions councillors had previously asked about what this will mean for Calgary’s carbon footprint. The city expects the purchase of the electric buses will directly reduce the total CO2 emissions of the bus fleet by 13,000 tonnes of CO2.The fleet currently emits just over 60,000 tonnes of CO2 annually. This investment would bring that number to just below 50,000 tonnes each year.
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