Back to SearchToday, Council approved the 2023 capital budget. The budget includes a number of critical projects initiated by staff, Council and community input.
The new term of Council met on January 30, February 1, and February 2, 2023 to review and amend the draft 2023 capital budget. Council held detailed discussion on priority capital projects and identified their priorities for the next five years through this process.
The 2023 five year capital budget includes:
- $16.6M investment in hard infrastructure in 2023 (not including sewer, water, or solid waste projects which are captured in separate budgets)
- Over $70.5M investment in hard infrastructure across all five years
- Over $4.2M invested North of the bypass and in our rural roads
- Over $9M through acquired grant funding in 2023 stretching our municipal dollars even further
- $17.45M invested in bridge infrastructure across all five years
The 2023 Five-Year Capital Budget Direction:
- Defer Down Town Revitalization Matheson and First Street South design and tender to 2026 and 2027 respectively.
- Additional Ontario Community Infrastructure Fund of $1,224,862 be allocated to roads infrastructure replacing Net Tax Levy funding.
- Replace Office Renovation and Expansion Net Tax Levy funding of $242,000 with Reserve funding.
As discussed during the budget meeting the net tax levy allocation for 2023 was increased by $136,160 from 2022 levels. It is noted that a more robust discussion will occur in conjunction with the 2023 Municipal Operating Budget on the net tax levy impact.
We would like to recognize the time and efforts made by City staff, who worked so diligently in partnership with Council, towards developing a budget that addresses significant projects and infrastructure needs for our community.
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