Dec 18, 2019
Posted on Wednesday, November 13, 2019
RICHMOND HILL – The Budget Committee of the Whole approved the draft 2020 capital budget at its meeting November 12. The capital budget will go to the December 18 Council meeting for final approval.
The 2020 capital budget will focus on managing and renewing City assets and infrastructure to support a vibrant, sustainable municipality. Significant projects worth more than $1 million in the 2020 draft capital budget include:
As per the capital budget strategy set by Council, use of tax-supported reserve funds is limited to $14 million in 2020 to maintain the health of Richmond Hill’s reserve funds while Council continues with the Capital Sustainability Committee review process. Richmond Hill’s capital budget is also funded through development charges and grants including federal gas tax.
“This Council continues to invest prudently where Richmond Hill requires it. Our largest capital projects in the 2020 budget are about improving our roads, protecting the community from weather events and maintaining crucial infrastructure, the projects that are most needed by our community.”
~ Mayor Dave Barrow
“We are using all available sources of funding for our 2020 capital budget, including development charges and grants from other levels of government, to ensure we can maintain our infrastructure and reserves while providing residents a safe and enjoyable environment.”
~ Budget Chair, Deputy Mayor Joe DiPaola
“My number one focus is always the residents of Richmond Hill and how our budgets impact them. With this capital budget, we have looked in every corner to see how best to reduce the burden on the residents’ hard earned money.”
~ Budget Vice-Chair, Ward 1 Councillor Greg Beros