2018 capital budget approved

More than $25 million will be invested in the City’s infrastructure following City Council’s approval of the 2018 Capital Budget.

The capital budget funds maintenance and upgrades to important infrastructure like roads, bridges, sewers, sidewalks and buildings, as well as parks and recreation items like playgrounds and trees.

City council passed the $25.2 million capital budget at its March 5/2018 meeting.

“The capital budget is focused on investing in core infrastructure – the roads, water mains, sidewalks and parks that are the foundation of a strong community,” said Mayor Walter Sendzik. “After years of a growing infrastructure deficit, Council introduced a one per cent infrastructure levy that has allowed us to start to tackle the infrastructure gap and plan for the long-term. Thank you to City staff and the budget committee for preparing the capital budget.”

From the 2018 infrastructure renewal program, 32 per cent is earmarked for road projects, 29 per cent for water and 17 per cent is dedicated for building improvements,including $900,000 to upgrade the HVAC unit at the St.Catharines Museum and Welland Canals Centre. New for 2018, the capital budget includes $320,000 to invest in local infrastructure to support the 2021 Canada Summer Games. This is the first of four years of capital budget support for the games.

“I want to thank City staff for their hard work making the capital budget an easier-to-read document,” said Coun. Mat Siscoe, Chair of the Budget Standing Committee. “Infrastructure is the backbone of a city and this budget clearly outlines our investments for the year and forecasts for the future.”

The capital budget is funded by four sources, with 23 per cent of funding, or $5.7 million, coming from grants, with the remaining 77 per cent funded by debenture, City reserves and revenue from the City’s operating budget.

The entire 2018 capital budget can be viewed at www.stcatharines.ca/CapitalBudget

Source – City of St. Catharines press release

 


 

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