Winnipeg, MB - In keeping with one of the top priorities of Winnipeggers, the City today presented its 2015 Preliminary Budget to increase funding, to record levels, for the renewal of both local and regional streets as part of the overall, six-year capital budget and forecast representing $2.9 billion in investments.
The 2015 Preliminary Capital Budget proposes a 22.7 per cent increase totalling a record $103.3 million for the regional and local street renewal capital program, an increase of $19.1 million from the 2014 Budget.
“Keeping pace with Winnipeg as a fast-growing city requires a committed focus and a dedicated revenue stream for renewing our local and regional streets,” said Mayor Brian Bowman.â� “By dedicating a record level investment, we believe we have taken another important step on the road to renewal of our most critical infrastructure.”
As part of the street renewal plan, Finance Chair, Councillor Marty Morantz said, “Dedicated funding will be drawn from new revenue generated from a number of sources including a portion of an inflation-tied 2.3 per cent property tax increase. Of this new revenue, 2 per cent will be dedicated to the renewal of regional and local streets, back lanes and sidewalks as part of the 2015 capital program.”
Despite the increase, Councillor Morantz said Winnipeg will still have the lowest residential municipal property taxes when compared to other large cities across Canada.â� Today’s proposed increase will result in $37 more per year in property taxes or 10 cents more per day on the average home.
Morantz added that a further $6.5 million in departmental savings/efficiencies was identified and reinvested in regional streets through incremental cash to capital.â� As well, the Street Renewal Frontage Levy, last increased in 2011, will increase to $4.35 from $3.75 per frontage foot to reflect construction inflation and will be fully dedicated to fund streets and sidewalk maintenance.
Summary of highlights of the proposed Capital Budget include:
Investing in City Streets
- Regional Street Renewal will provide an enhanced program of $18.5 million, $16.4 million toward the regular program and incremental cash to capital of $6.5 million funded from departmental savings/efficiencies, for a total of $41.4 million in 2015
Local Street Renewal will provide an enhanced program of $18.7 million and $43.2 million toward the regular program for a total of $61.9 million in 2015 - In total, the Local and Regional Street Renewal Program will provide $103.3 million in 2015, more than tripling the investment made in 2012
Dedicated Funding Plan for Regional and Local Street Renewal
- A 2.3 per cent property tax increase will dedicate:
- 2 per cent solely to the renewal of regional and local streets, back lanes and sidewalks in the capital program
- 1 per cent to regional and 1 per cent to local
- .3% general property tax increase for operating expenditures
- Additional $9.8 million in new revenue generated in 2015 will be transferred to the capital reserves
- Debt financing of $20.2 million in 2015 for regional and local street renewal
- Additional $6.7 million from increase in Street Renewal Frontage Levy, tied to construction inflation, dedicated to funding streets and sidewalks maintenance in the Operating Budget
Other Highlights of the Six-Year Capital Investment Program
- $1.2 billion for sewage disposal projects
- $816.7 million for roads and bridges
- $203.6 million for theâ� drinking water system
- $197.7 million for the transit system
- $110.2 million for public safety infrastructure
- $96.8 million for community and municipal facilities including pools, arenas and recreation amenities
- $95.2 million for community services including libraries
- $32.2 million for land drainage and flood control
- $27.9 million for active transportation facilities
- $26.6 million for recycling and garbage disposal
“We believe this proposed plan offers Winnipeggers the certainty of knowing exactly where their tax dollars are flowing,” Mayor Bowman concluded, “and, that is to projects and initiatives that rank at the very top of their list of priorities.”
The 2015 Budget builds on the City’s long-term plan to grow a modern, thriving city with quality of life improvements for all Winnipeggers that include renewal of our infrastructure, and a focus on creating a safe and vibrant community we are all proud to call home.
For more information on the 2015 Budget, please visit Winnipeg.ca/2015Budget