Burlington city council approves plan to take care of $5.2B in infrastructure assets
Published November 24, 2021 at 2:58 pm
Burlington city council is taking care of some long-term business with the adoption of the 2021 Asset Management Plan yesterday.
The plan, updated every five years, monitors the overall health and investment needs of the city’s $5.2 billion in infrastructure assets.
“With this new 2021 Asset Management Plan, we can be confident we are investing in our future by monitoring the health of our considerable infrastructure assets and reinvesting in their maintenance, renewal and replacement in a timely and cost-effective manner,” said Mayor Marianne Meed Ward.
“Infrastructure assets provide significant recreational enjoyment and enable a high-quality of life for our residents and are essential to the smooth functioning of our city as a business and economic hub in the GTA. With these plans in place, we are well-positioned to deliver a cost-effective, sustainable approach to infrastructure asset management.”
The infrastructure assets are fundamental to supporting the community’s economic, social and environmental well-being and growth, and represent 70 per cent of the City’s annual capital budget.
The city’s $5.2 billion in infrastructure assets include:
- $2.43 billion in transportation assets
- $996.8 million in stormwater assets
- $632.5 million in recreation, community and cultural assets
- $300 million in urban forestry assets
- $248.8 million in parks assets
- $148.3 million in corporate facilities
- $130.6 million in transit assets
- $119.9 million in parking assets
- $82.6 million in fire assets
- $65.8 million in IT assets
The plan will enable staff to make informed, proactive decisions regarding the acquisition, construction, operation, maintenance, renewal, replacement, expansion and disposal of the city’s infrastructure assets.
The 2021 Asset Management Financing Plan provides a 60-year funding strategy for the City’s infrastructure renewal needs.
The City takes a Life-cycle Cost Analysis (LCCA) approach to managing its infrastructure assets. The benefit of LCCA is that it helps identify the most cost-effective option among different competing alternatives to purchase, own, operate, maintain and dispose of assets.
“At the City of Burlington, we take a comprehensive, proactive approach to managing the City’s $5.2 billion in infrastructure assets,” said Andrew Maas, the city’s manager of Asset Planning.
“With our new five-year Asset Management Plan, we will minimize risk, manage costs and optimize our service delivery options on behalf of residents and businesses. Along the way, using Life-cycle Cost Analysis, in combination with regular monitoring of our infrastructure assets, we will continuously update our plan to achieve peak reliability and availability.”insauga's Editorial Standards and Policies