The City of Calgary has elevated the risks associated with its infrastructure following the second catastrophic failure of a main city water line in less than two years.

Ward 2 Coun. Jennifer Wyness is raising concerns about the recommendations including the establishment of a municipally owned corporation to manage Calgary's water system.

The independent panel's report found the City of Calgary's water utility spent its entire capital budget only twice in the last 20 years.

Ward 14 Coun. Landon Johnston is questioning the panel's independence after a weekend email to city council, obtained by Global News, over the timing of the report's release.

Calgary Mayor Jeromy Farkas sat down with Global News for a year-end interview to reflect on his first few months in office.

Although Calgary Mayor Jeromy Farkas campaigned on a promise to repeal and replace citywide rezoning, council defeated his motion to kick-start the process to find a replacement.

To partly reduce the property tax increase, Calgary city council tapped into $50 million of investment income to help pay for city operations.

According to Calgary's mayor, the property tax increase as it currently stands would cost the typical residential homeowner an additional $3.90 per month.

The budget proposed an overall property tax increase of 3.6 per cent, but Calgary city council has whittled that down to 1.18 per cent so far.

According to the City of Calgary, the operating and maintenance costs of an electric bus is estimated at $815,000 over 16 years compared to $1.71 million for a diesel bus.