We are now seeking feedback on the draft 2025 Capital Budget and 10-Year Capital Plan! Review the draft information and documents below and on the 2025 Capital Budget page and take the survey before Nov. 4 to have your say: 2025 Capital Budget & 10-Year Capital Plan Survey. The Council agenda for the 2025 Capital Budget and 10-Year Capital plan will be posted on October 21 to align with the timelines under the Strong Mayor's legislation, with Council deliberations scheduled for November 18, 2024.
The 10-Year Capital Plan is the City’s roadmap for making large investments in infrastructure and services. It outlines funding sources and budgets required for projects spanning over multiple years.
In developing the City’s 10 Year Capital Plan, the City’s Asset Management Plan has been utilized as the guiding document, in conjunction with the guidelines established by Council. Like the Capital Budget, the priority of infrastructure investments is guided by; the condition of existing infrastructure, adequacy of service levels, Capital Infrastructure risks and City plans and studies including the Strategic Plan, Development Charge Background study, Transportation Master Plan and more.
The 10-Year capital plan has been guided by meeting its Asset Management Targets, as well as ensuring a financing strategy to utilize available resources prudently while considering future capital funding requirements.
| Asset Management Targets |
| The estimated level of capital renewal and growth needed to maintain levels of service in the City's Asset Management Plan guided the level of corporate investment required by the City. The total inflated investment predicated under the Asset Management plan totals $1.106 billion over 10-year, and the Capital forecast developed delivers just under this amount at $1.104 billion. The focus from the City has been a more aggressive investment in renewal activities to ensure the Corporation can adequately manage risk. Significant growth investments are also being considered with a pointed strategy focusing on key priorities aligned with approved plans and considering capacity. |
| Financial Strategy |
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In developing the financial strategy, the annual increases outlined in Asset Management Plan were utilized the basis for Capital contribution requirements to capital reserve funds (Taxation [2.3% Levy], Water [% ], Wastewater [5.13%], and Parking [1.69%]). Ensuring reserve funds do not run into a deficit is a primary aim of this strategy, with the secondary objective to improve the target balances within the City's Reserve Fund policy. Under the proposed program overall Reserve fund targets are improving over the period, providing reasonable % of target improvements and balances at the end of the period. This assists in adequately planning and managing financial capital risks across each portfolio. It should also be noted that based on the large capital needs of the Wastewater portfolio, and the current under target reserve fund balance, interfund borrowing is recommended between Water and Wastewater during the 2026 to 2033 period. |
10-Year Capital Plan Funding Summary
| Forecast |
2025 Total |
2026 Total |
2027 Total |
2028 Total |
2029 Total |
2030 Total |
2031 Total |
2032 Total |
2033 Total |
2034 Total |
Total |
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10-Year Capital Plan Breakdown by Funding Area |
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| Taxation | 36,526 | 56,532 | 99,033 | 67,845 | 62,382 | 56,323 | 66,027 | 82,555 | 108,730 | 86,250 | 722,203 |
| Water | 8,687 | 10,365 | 18,875 | 13,648 | 15,646 | 10,853 | 14,620 | 10,430 | 4,645 | 19,708 | 127,477 |
| Wastewater | 8,404 | 20,463 | 19,874 | 14,635 | 31,176 | 14,365 | 17,131 | 95,084 | 5,304 | 26,923 | 253,359 |
| Parking | - | 155 | 108 | 112 | 180 | 120 | 125 | 129 | 134 | 326 | 1,389 |
| 53,617 | 87,515 | 137,890 | 96,240 | 109,384 | 81,661 | 97,903 | 188,198 | 118,813 | 133,207 | 1,104,428 | |
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10-Year Capital Plan Breakdown by Funding Source |
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| Reserve Funds | 35,349 | 54,684 | 60,278 | 74,415 | 77,856 | 38,175 | 50,675 | 55,898 | 39,881 | 66,763 | 553,974 |
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Development Chargers |
245 | 7,106 | 710 | 1,675 | 2,433 | 3,661 | 14,914 | 22,596 | 30,743 | 24,444 | 108,527 |
| Grants/Other | 13,023 | 13,290 | 12,205 | 12,584 | 12,255 | 12,868 | 13,511 | 14,187 | 14,896 | 15,641 | 134,460 |
| Debt | 5,000 | 12,435 | 64,697 | 7,566 | 16,840 | 26,957 | 18,803 | 95,517 | 33,293 | 26,359 | 307,467 |
| 53,617 | 87,515 | 137,890 | 96,240 | 109,384 | 81,661 | 97,903 | 188,198 | 118,813 | 133,207 | 1,104,428 | |
For a complete list of proposed projects, request a copy of the 2025 Capital Budget and 10-Year Capital Plan.
Major Reconstruction and Relining Program Map
The map below provides a detailed look at the Major Reconstruction projects and relining programs proposed in the draft 10-Year Capital Plan.
Below is a summary of the budget totals for each service area in the draft 10-Year Capital Plan.
| Budget 2025 Total | Forecast 2026 Total | Forecast 2027 Total | Forecast 2028 Total | Forecast 2029 Total | Forecast 2030 Total | Forecast 2031 Total | Forecast 2032 Total | Forecast 2033 Total | Forecast 2034 Total |
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| 22,309 | 20,008 | 70,878 | 46,832 | 41,248 | 39,810 | 41,171 | 55,616 | 87,233 | 70,447 |
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| Budget 2025 Total | Forecast 2026 Total | Forecast 2027 Total | Forecast 2028 Total | Forecast 2029 Total | Forecast 2030 Total | Forecast 2031 Total | Forecast 2032 Total | Forecast 2033 Total | Forecast 2034 Total |
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| - | 814 | - | - | - | 685 | - | - | - | - |
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| Forecast 2025 Total | Forecast 2026 Total | Forecast 2027 Total | Forecast 2028 Total | Forecast 2029 Total | Forecast 2030 Total | Forecast 2031 Total | Forecast 2032 Total | Forecast 2033 Total | Forecast 2034 Total |
|---|---|---|---|---|---|---|---|---|---|
| 7,308 | 21,905 | 16,197 | 14,175 | 13,989 | 7,718 | 14,253 | 19,301 | 8,670 | 8,799 |
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| Budget 2025 Total | Forecast 2026 Total | Forecast 2027 Total | Forecast 2028 Total | Forecast 2029 Total | Forecast 2030 Total | Forecast 2031 Total | Forecast 2032 Total | Forecast 2033 Total | Forecast 2034 Total |
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| 4,326 | 11,846 | 7,414 | 4,167 | 5,654 | 5,628 | 8,563 | 6,680 | 11,836 | 4,561 |
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| Budget 2025 Total | Forecast 2026 Total | Forecast 2027 Total | Forecast 2028 Total | Forecast 2029 Total | Forecast 2030 Total | Forecast 2031 Total | Forecast 2032 Total | Forecast 2033 Total | Forecast 2034 Total |
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| 1,250 | 305 | 408 | 246 | 396 | 563 | 53 | 5 | - | - |
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| Budget 2025 Total | Forecast 2026 Total | Forecast 2027 Total | Forecast 2028 Total | Forecast 2029 Total | Forecast 2030 Total | Forecast 2031 Total | Forecast 2032 Total | Forecast 2033 Total | Forecast 2034 Total |
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| 80 | 87 | - | - | - | - | - | - | - | - |
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| Budget 2025 Total | Forecast 2026 Total | Forecast 2027 Total | Forecast 2028 Total | Forecast 2029 Total | Forecast 2030 Total | Forecast 2031 Total | Forecast 2032 Total | Forecast 2033 Total | Forecast 2034 Total |
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| 1,093 | 1,566 | 4,135 | 2,426 | 1,094 | 1,919 | 1,989 | 952 | 990 | 2,442 |
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| Budget 2025 Total | Forecast 2026 Total | Forecast 2027 Total | Forecast 2028 Total | Forecast 2029 Total | Forecast 2030 Total | Forecast 2031 Total | Forecast 2032 Total | Forecast 2033 Total | Forecast 2034 Total |
|---|---|---|---|---|---|---|---|---|---|
| 8,687 | 10,365 | 18,875 | 13,648 | 15,646 | 10,853 | 14,620 | 10,430 | 4,645 | 19,708 |
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| Budget 2025 Total | Forecast 2026 Total | Forecast 2027 Total | Forecast 2028 Total | Forecast 2029 Total | Forecast 2030 Total | Forecast 2031 Total | Forecast 2032 Total | Forecast 2033 Total | Forecast 2034 Total |
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| 8,404 | 20,463 | 19,874 | 14,635 | 31,176 | 14,365 | 17,131 | 95,084 | 5,304 | 26,923 |
| Asset Maintenance & Replacement | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Forecast 2025 Total | Forecast 2026 Total | Forecast 2027 Total | Forecast 2028 Total | Forecast 2029 Total | Forecast 2030 Total | Forecast 2031 Total | Forecast 2032 Total | Forecast 2033 Total | Forecast 2034 Total |
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| - | 155 | 108 | 112 | 180 | 120 | 125 | 129 | 134 | 326 |
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