The city is underfunding its assets that are worth more than $2 billion dollars.
The Finance Committee was told they’re not in bad shape but the trend is downward and could approach the tipping point. Committee members heard the city should be spending $42 million a year to maintain its infrastructure but is only spending something like $19 million.
The Finance Committee voted in favour of developing a ten year plan for infrastructure.
The city has been give a grade of C but more than $430 million dollars should be spent on its infrastructure over the next ten years and 23 per cent of it should be replaced now.
It was also learned the city has spent $20 million over the past several years on drainage issues that were caused by poor development decisions.
