It’s time for another edition of our weekly column from the A-Team. Here is some important news for this week.
The Recovery Task Force is reaching out to help property owners who haven’t started the rebuilding process. From Mix News:
Recovery Task Force Looking To Help Property Owners Who Haven’t Started Rebuild Process
The Recovery Task Force is releasing their latest updated rebuild numbers and, right now, 561 properties haven’t received permits to start construction.
Operations Manager with the Task Force Erin O’Neill tells Mix News they’ve come across many different reasons for why people aren’t trying to move back home.
“People are still dealing with their insurance, people haven’t decided what they want to do, some people want to leave their lot vacant, so we’re really trying to figure out the bulk of the reasons.”
She says they’re still trying to help steer each property owner into the direction they’re looking to take. Via mix1037fm.com
The article adds that 389 rebuilds have been finished so far, with 1000 expected by the end of 2018.
In other news, Council made significant progress during the first budget workshop meeting, according to Olivia Condon from Fort McMurray Today:
Progress made at first budget workshop meeting
The biggest ask of the day came from Regional Recreation Corporation, who requested $14,637,850. This represents 42 per cent of their projected expenses for 2018. Their 2017 funding request was $16,094,700, while 2016 had a $17,267,200 ask.
Towards the end of the meeting, it was mentioned that an “extensive mold problem” has been discovered at the Anzac Community Hall.
In total, the organizations asked for a combined total of $26,838,019 across all groups. This represents a $1,765,481 decrease from 2017 funding requests and a $4,177,881 decrease from 2016. h/t fortmcmurraytoday.com
The 2018 Capital Budget will include everything from public works and environmental and financial services to RCMP support.
Lastly, Suncor hiked quarterly dividends as Q4 funds from operations hit a $3B record. From My McMurray:
Suncor hikes dividend as Q4 funds from operations hit $3B record
The company says it will raise its quarterly payouts to 36 cents per share, fulfilling CEO Steve Williams’ vow in November to increase dividends and share buybacks in 2018 as production rises from its new Fort Hills oilsands mine in northern Alberta and Hebron oil project off the coast of Newfoundland and Labrador.
Canada’s largest energy company by market capitalization reported operating earnings of $1.3 billion or 79 cents per share in the last three months of 2017, compared with $636 million or 38 cents a year ago, thanks to stronger oil prices, lower upstream exploration costs, better refinery utilization and higher refinery profit margins.
Net earnings of $1.382 billion or 84 cents per share were up from $531 million or 32 cents in the year-earlier period. read more at mymcmurray.com
The Fort Hills project has cost $17.16 billion to bring to completion, a bit higher than the estimated cost made last year which is $16.5 billion to $17 billion, according to Suncor.
That’s all for this weeks’ roundup. Check back on The A-Team blog for more news and updates on Fort McMurray.