Posted on Wednesday December 14, 2016
2017 Capital Budget Approved
Strong Commitment by Council to Invest in Community Infrastructure
Gravenhurst, ON - Last night Council unanimously approved a 2017 Capital Budget of $5,385,555 for the Town of Gravenhurst. 83% of this capital investment will go towards roads, storm sewers, bridges, facilities and parks, all things that affect the day-to-day lives of taxpayers.
The 2017 Capital Budget addresses important infrastructure maintenance needs, but also sets the Town on the path to environmental sustainability. Projects include lighting retrofits, roof replacements, facility improvements and road reconstruction/repairs.
“This Capital Budget includes projects previously identified in the 2016 Multi-Year Capital Plan such as the Sniders Bay Bridge replacement, as well as emerging issues that require attention, such as the boardwalk at Muskoka Wharf. It attempts to balance safety and risk management with customer service and accessibility, with due consideration for the ability to pay,” said Mayor Paisley Donaldson.
In October 2015, Council considered and approved in principle a plan that would see the tax levy increase by 3% a year, each year for 3 years, to provide much-needed tax levy funding for the capital budget. 2017 will be year 2 of the 3 year plan. As well, as a result of borrowing for capital in 2016 from the Community
Reinvestment Reserve Fund (previously approved by Council), the 2017 Operating Budget will increase by a further 2%.
“For years the Town, like most municipalities in Canada, did not invest in required routine maintenance, repairs or timely replacements as they struggled to keep property taxes low. As a result, the Town now has to play “catch-up” on these costs,” said Glen Davies, CAO. “The new Town Asset Management Plan will come forward to Council in January 2017. I look forward to some good discussion with Council on the current infrastructure gap, leading to our continued efforts to put the Town on a fiscally sound and sustainable path forward.”
Beginning Wednesday, February 15, the 2017 Town of Gravenhurst Operating Budget deliberations will begin. A complete schedule of meetings and upcoming agendas can be found at www.gravenhurst.ca. [direct link]
For more information, please contact:
Director of Corporate Services/Treasurer