CALGARY – City officials are expected to discuss the findings of a new flood mitigation report in a news conference at 3 p.m. on Friday afternoon.
The 62 page report, released on Thursday, examines possible changes to current infrastructure and new projects to prevent future floods.
It was compiled by the city’s expert panel on flood mitigation.
One of the options the panel recommends is a diversion tunnel that would run from the Glenmore Reservoir to the Bow River.
However, the estimated cost of the tunnel has skyrocketed.
Although early estimates had placed the cost at $290 million, construction is now pegged at $457 million.
If you factor in environmental mitigation, regulatory costs and land purchases the price tag rises to nearly half a billion dollars.
Wolf Keller, Chair of the Panel, will be presenting this report and recommendations to the Priorities and Finance Committee (PFC) of Council on Tuesday, June 17.
CLICK HERE to see the complete River Flood Mitigation Panel report.