Minutes Special Meeting of Council Monday, January 27, 2020

Abstain: None.

10.2. 2020 8-Year Recommended Capital Budget

Moved by: Councillor Bortolin Seconded by: Councillor Holt

Decision Number: B57/2020 That City Council RECEIVE the 2020 Capital Budget 8-Year Plan documents reflective of $1,207,386,327 in total funding; and,

That City Council APPROVE the recommended allocation of the 2020 available funding, inclusive of funding required for pre-commitments and placeholders, for capital projects totalling $161,548,146 (subject to any further changes approved by Council); and,

That City Council APPROVE IN PRINCIPLE the recommended allocation of the 2021 through 2027 available funding, inclusive of funding required for pre-commitments and placeholders, for capital projects totalling approx. $1,045,838,181 (subject to any further changes approved by Council); and,

That City Council APPROVE the creation of a new reserve fund titled "Service Sustainability Investments" and further that the funding and purpose of this reserve be administered as outlined in the Financial Matters Section of this report; and,

That City Council APPROVE a change of the Beach Volleyball Courts project to the Riverfront Exercise Equipment (PFO-008-17) and that the $100,000 placeholder in 2021, originally identified for Beach Volleyball, be maintained for this expanded project definition; and,

That City Council APPROVE a change to the funding source of previous precommitments as outlined in the Financial Matters section, and establish the precommitment from the new funding source as identified, and release the original funding source; and,

That City Council DEEM the 2020 8-year Capital Budget as a supplement to the approved Corporate Asset Management Plan as it identifies projects and investments which are informed by and reflective of the City's approved Asset Management Policy and Plan. Carried.

Report Number: C 198/2019 Clerk's File: AFB/13467