Renewing Oak Bay’s Infrastructure
Priority: We need to get serious about renewing our aging infrastructure.
Action: Decide on a plan and funding formula for future infrastructure renewal.
Infrastructure replacement is a significant and important undertaking for our community, as it is with many communities in Canada. You will be electing a Council who will benefit from the work done by the outgoing Council. This is the first Council to have taken significant action in addressing the infrastructure issue. I have included a flow chart which demonstrates what has been accomplished on infrastructure renewal planning by Council and staff in the 2014-2018 term.
You can see that in the 2014-2018 term Council methodically developed strategies and actions to address the $280 M infrastructure costs (see Opius Report, 2016). In 2015 Council agreed to develop an Asset Management Program as a Strategic Priority, and since then has meticulously reviewed the status of the District’s assets and infrastructure, as well as the past practices of maintenance and renewal. In 2018 Council adopted an Asset Management Policy and Strategy and approved an annual 1% contribution to infrastructure reserves. Council then directed staff to develop a long-term Asset Management Financial Plan.
The next steps will be for your new Council to work with staff and the community to choose a plan and funding formula for future infrastructure renewal. These funding options could include borrowing, grants, reserves, taxation, and a likely combination of these.