Item No. 8.1

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Council Report: C 104/2020

Subject: Capital Budget Recommended Guidelines

Reference:

To: Mayor and Members of City Council

Recommendation:

THAT given the financial impacts of the COVID 19 pandemic and the current uncertainty surrounding senior level government funding to assist municipalities THAT City Council ENDORSE the guidelines outlined in this report for the balance of 2020 as a framework when considering capital funding and projects; and,

THAT in order to facilitate the maximization of available funding and to increase the City’s ability to leverage grant funding, City Council AUTHORIZE the CAO to exchange funding sources between capital projects that do not change the total approved funding or impact the timing of capital projects.

Executive Summary:

N/A.

Background:

The current pandemic situation is impacting all municipalities and countries throughout the world. As such, it requires municipalities to examine their capital programs in order to ensure appropriate guidelines and measures are in place to ensure the continuance of capital investments in order to maintain existing assets in operational condition, ensure the ongoing completion of various projects that are scheduled and in progress , completion of projects which are needed to address unexpected asset failures or emergency situations as well as any projects which allow the City to pursue or maximize grants and/or generate economic stimulus opportunities. These are just a few examples of the many scenarios which require municipalities to ensure ongoing capital