07/29/2013 08:00 EDT | Updated 07/29/2013 08:01 EDT

Calgary's $52 Million Tax Surplus Going To Flood Rebuilding Costs

Naheed Nenshi, the young charismatic mayor of Calgary, a city renowned conservative, talking with people waiting for his conference on business opportunities in Calgary at The Hyatt Regency in Montreal on September 22, 2011. Being just an hour off Twitter is difficult for Calgary's savvy mayor, a Muslim who has gained authority despite his young age thanks to his charisma, humor and projects in the conservative city. 'In Canada and in particularly in Calgary, it's possible to do and to be anything regardless of where you come from,' said Naheed Nenshi, smiling broadly beneath his small-framed glasses and brown curly hair, during a visit to Montreal to attract investor to his city. AFP PHOTO / Marie Laure JOSSELIN (Photo credit should read Marie Laure JOSSELIN/AFP/Getty Images)

CALGARY - A multimillion-dollar tax surplus that the City of Calgary was deciding what to do with is going to be put toward flood rebuilding costs.

City councillors announced in April that there would be an extra $ 52 million in the budget due to a discrepancy in taxes.

The mayor and councillors debated five different ways to spend the money, including lowering taxes for businesses and investing in older neighbourhoods.

They also held public consultations to see how taxpayers thought the money would be best spent.

After the city was rocked by devastating floods in June, Mayor Naheed Nenshi suggested the money should be used to help pay for flood repairs.

Councillors have now voted in favour of Nenshi's motion.

The city has pegged the initial cost of the flood at almost $257 million. That includes damage to parks, the Calgary Zoo, riverbanks and city hall.

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