Re-entering politics after a 13-year break, Epp was easily elected to a third term as mayor of Waterloo in November 2003, receiving double the number of votes cast for incumbent Lynne Woolstencroft. During his term, he helped oversee the continuing redevelopment of Waterloo Square, initiated by Mayor Joan McKinnon (1997–2000) and a multimillion-dollar library/YMCA project on University of Waterloo lands on the west side of the city.
Epp was re-elected as mayor of Waterloo in November 2003, receiving double the number of votes cast for his predecessor, Lynne Woolstencroft. During his term, he helped oversee the ongoing redevelopment of Waterloo Square, which had been initiated by Mayor Joan McKinnon (1997–2000), and oversaw a multimillion-dollar library/YMCA project on University of Waterloo land on the city's west side.