April 09, 2014 - 11:46 AM
Vernon City Council endorsed the City of Vernon Integrated Transportation Framework (ITF) in a special Committee of the Whole meeting on April 7. This work is part of the City’s asset management strategy to control the costs of infrastructure while incrementally increasing the necessary revenues to achieve long term financial sustainability.
City Infrastructure Engineer Mark Dowhaniuk said revenue from the federal gas tax, casino funding and the 1.9 per cent tax increase approved by Council will, over the course of the next 10 years, provide an estimated $7.7 million to fund the maintenance and replacement of existing infrastructure.
The need for a cost-containment/revenue-generating strategy was outlined by Dowhaniuk, who said rebuilding and maintaining the transportation network in its existing state would have an annual cost of $8.4 million, more than $2 million above available funding. Dowhaniuk said alternate construction techniques and reclassifying existing road networks will ensure that the strategy is financially sustainable and will balance the City’s costs with available revenues. Furthermore, ITF is adaptable, allowing for change on an annual basis.
“Vernon is one of the few communities identifying what the infrastructure problems are and what the long-term solutions might be,” said Mayor Rob Sawatzky, speaking in favour of ITF.
More details on ITF can be found on the City’s website.
News from © iNFOnews, 2014