$44M Richmond Hill capital budget approved for next year

New library, parks and road projects planned

Yorkregion.com
Dec. 18, 2014
By Kim Zarzour

Projects located in the northern part of Richmond Hill will get the lion’s share of the town’s 2015 capital budget, approved by council Monday night.

The $44.5-million capital budget supports 36 new projects, including the Oak Ridges Library ($8.7 million), reconstruction of Sunset Beach Road, Park Crescent and Dunn Drive ($5.8 million) and Duke of Richmond north trail and park ($2.9 million).

An additional $1.2 million will also be directed towards energy-efficient lighting.

The budget will be funded through development charges, parkland levies, grants and town reserve funds. Unlike the operating budget, which will be approved in early 2015, the capital budget has no direct impact on property taxes.

“The capital budget is extremely important to continue to move Richmond Hill forward,” said Mayor Dave Barrow.

The capital budget is approved before the operating budget, so that capital projects have funding in place before the new year, he said.

“When construction season begins, Richmond Hill will be ready.”

All of the capital budget projects support Richmond Hill’s strategic priorities and align with key long-term project plans such as the Official Plan, Transportation Master Plan, Cultural Plan, Parks Plan, Recreation Plan, Accessibility Plan, Library Facility Plan and Environment Strategy.

Growth-related projects account for 37 per cent of the 2015 capital budget, while 63 per cent is devoted to maintenance or upgrades of existing infrastructure.

Along with the capital budget, Richmond Hill maintains a 10-year capital forecast to ensure the continued alignment of short and long-term priorities, investment requirements for infrastructure, funding sources and sustainability. Council is reviewing the capital forecast separately in early 2015.

Council and staff now turn to the public process for developing the 2015 operating budget.

A public information session will be held at Hillcrest Mall on Saturday, Jan. 17. Residents can also email budget@richmondhill.ca to provide their comments.

The operating budget is expected to be approved in the first quarter of 2015.

For more information, including the dates of upcoming budget committee meetings, visit RichmondHill.ca/Budget