Mayor Pachal
Recommendation:
THAT the resolution passed at the February 27, 2023 Regular Council Meeting, which reads as follows:
“Sustainable Canadian Municipalities Asset Management Fund
WHEREAS Canada’s infrastructure deficit is estimated to be as high as $570B with almost 60% of the deficit within municipal jurisdictions.
WHEREAS the costs to replace and repair municipal infrastructure for critical services such as roads, arenas, bridges, drinking water, and wastewater systems are estimated to be $141 billion, which is well beyond the financial capacity of municipalities across the country due to limited revenue generation options, and all while costs for infrastructure renewal continue to escalate at an exponential rate.
THEREFORE, BE IT RESOLVED that the Government of Canada create a sustainable and reliable municipal asset management fund, like the permanent Building Canada’s Public Transit Future Fund, to increase investments in infrastructure renewal, which is essential to enhance public safety, reduce health risks, ensure economic sustainability, and lessen the financial burden on future generations to pay for the infrastructure deficit.”
be replaced with the following resolution:
“Sustainable Canadian Local Governments Asset Management Fund
WHEREAS Canada’s infrastructure deficit is estimated to be as high as $570B with almost 60% of the deficit within municipal jurisdictions.
WHEREAS the costs to replace and repair local government infrastructure for critical services such as roads, arenas, bridges, drinking water, and wastewater systems are estimated to be $141 billion, which is well beyond the financial capacity of local governments across the country due to limited revenue generation options, and all while costs for infrastructure renewal continue to escalate at an exponential rate.
THEREFORE, BE IT RESOLVED that the Government of Canada create a sustainable and reliable local government asset management fund, like the permanent Building Canada’s Public Transit Future Fund, to increase investments in infrastructure renewal, which is essential to enhance public safety, reduce health risks, ensure economic sustainability, and lessen the financial burden on future generations to pay for the infrastructure deficit.”