The city’s assets are not being funded properly and the existing municipal infrastructure needs attention. That message was delivered to the city’s Finance Committee with the proposed capital budget for next year that amounts to more than $18 million dollars.
Councillor David Merrithew, who chairs the Finance Committee, says the city will have to change the way it does business because there are no reserve funds for large scale projects which means the cost of borrowing is higher.
City Manager Jeff Trail concedes the city is barely keeping up with maintaining roads before they need reconstruction which is six times more expensive. It’s being proposed $5.4 million be spent in 2018 on roads, curbs and sidewalks.
The Finance Committee was also told Harbour Station will be looking for $3 million dollars over the next five years for various projects.
While saying he hopes the Field House at Exhibition Park turns out to be a success, Merrithew argues it should have been a regional project, pointing out the city is putting 105 times as much money into the project compared to the outlying communities.
12 new City Transit buses will be hitting the streets early next year in a cost sharing agreement.
