Marianne Meed Ward
The city’s backlog of infrastructure renewal needs has dropped $7 million since 2015, according to a just-released asset management plan.
The estimated unfunded renewal need is $126.5 million in total, a $7 million reduction from the previous report in 2015, even when considering factors related to improved inventory information resulting in a greater number of assets reported on, updated costing, and more formalized assessments.
This progress can be attributed primarily to a strong commitment focused on capital investment in asset renewal projects and related initiatives. In 2013, Council approved a 20 year financing plan which included the following:
- Dedicated Infrastructure levy of 1.25% (up to 2022), reducing to 1% (2023-2033) and further reducing to 0.5% (2034 and beyond);
- re-purposing the hospital levy in phases beginning in 2019.
Furthermore, the 2015 Asset Management Plan update also included the following:
- $20 million phased over 4 years to directly assist with the renewal of the city’s roads infrastructure;
- 0.2% levy beginning in 2020 to address the renewal needs of a growing asset inventory.
The capital funding requirements for renewal needs will be brought forward in the spring of 2017 as part of the Asset Management Financing Plan update. The long-term (60 year) annual reinvestment need averages approximately $67.5 million.
Roadways represent the largest category of unfunded renewal needs, at $108 million.
The report will be on the agenda for the April 3 Committee of the Whole at City Hall, 1pm, Council Chambers. Recommendations from COW will go to City Council April 18 for a final decision. Register as a delegation to speak to committee about this item.
Read the report:
CW-22-17 Asset Management Plan
Read the full agenda for COW:
How did we get into this situation? There had to be years of underfunding.
Unfortunate choice of image showing most basic form of temporary pothole filling into highly fractured surrounding road surface. Not renewal, just a band aid. Would like to see quality renewal on our roads, unlike the state of New Street for so many years, and only being made worse in some areas.