EDMONTON – Because of lighting efficiencies found by EPCOR, the Light the High Level Bridge initiative is now budgeted at $2.5 million instead of $3 million.
“We’re at $2.25 million right now,” said Dave Mowat, president and CEO of ATB, one of the local business leaders behind the project, on Monday.
So far, more than 6,000 people and between 400 and 500 businesses have donated funds to the project.
“Edmontonians have been very generous,” said Mowat. “The businesses in Edmonton have really stepped up.”
“We’re right at 90, 91 per cent.”
The original budget for the Light the Bridge initiative was $3 million, which would cover all the capital costs, including materials, programmability, and teaching staff in Edmonton how to program and run the lights.
EPCOR was able to find efficiencies in order to get the price down to $2.5 million, so all the remains is $250,000.
“That Christmas gift giving, the light is a great opportunity for them, so we’re expecting a bit of a rush there, and then we’ll just finish it off into January,” said Mowat.
“Us kind of publicizing the fact that we’re so close, I think lots of times that gives people the motivation to get this thing over the finish line.”
The grassroots campaign aims to make the High Level Bridge a focal point in the city by adding 60,000 LED lights that can change colour, sparkle, be synchronized to music, and display several different effects.
“It’s fun, but also it improves the curb appeal of the city, a city that we’re proud of.”
An update from Edmonton City Adminstration, which council is set to debate on Wednesday, suggests the City become a “financial contributor to the project” and put in the remaining $250,000 using funds in Council Contingency so that the project is fully funded. (Read the full budget update below).
In order to meet a target completion date of Canada Day, 2014, the lighting system needs to be ordered by the first week of January, according to the city report.
The report goes on to say: “In the event that the fundraising program reached the target of $2.5 million, the need for City funding would be minimized and potentially eliminated.”
However, the Light the Bridge committee asserts it does not want public funds for the project.
“We haven’t asked for the money,” said Mowat. “We’re going to raise the rest of the money.”
Mowat explains the $250,000 would serve as a loan.
“The report that’s going to city includes a bridge loan… of $250,000 and what’s at play is the city isn’t really allowed to start any project until all of the funding is complete.”
“So our commitment is to still raise all of the funding, but what we have is a terrific price from the lighting manufacturer… In order to get that financing, this bridge loan has been put in so we can say there is a complete package. But we’ll use the remaining three months to raise the rest of the money.”
Mowat says the fundraising momentum is great, but if for some reason the donations dried up, the Light the Bridge project would simply shorten the length of bridge outfitted in lights.
“I think the city sees it as: A – we’re going to raise the money, B – if they had to, they could shorten it up, and so C – they would never use their bridge loan.”
“I think they’ve done a marvelous job so far,” said Mayor Don Iveson, “and I just want to do what I can to help them get to the finish line, so this really can be a Make Something Edmonton, owned by the community initiative.”
“It’s the kind of infrastructure project that makes the city a very interesting place to be,” added Councillor Michael Walters.
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