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Kelowna  

Kelowna's long range capital spending plan just shy of $550 million

Increasing capital spending

Kelowna's director of finance promised city council earlier this week the city would be ramping up long-term capital spending.

In response to questions concerning the city's infrastructure deficit, Joe Sass said he was optimistic the 2024 capital budget would show greater long-term investment in infrastructure than in the past.

The proposed 2024 budget released this week outlines the long-term financial implications of planned capital projects as well as funding needed to begin those projects in 2024.

The budget lists overall capital spending on projects beginning next year of $549 million of which $140.1 million is being requested for 2024.

The breakdown includes 80 general fund requests totalling $101 million, $14.5 million of which would be funding through taxation. The remaining projects for the airport, water and wastewater are all funded through user fees.

The largest capital project starting in 2024 is replacement of the Parkinson Rec Centre. The city is seeking $9 million in the first year, $2 million of which would be borrowed as part of the $241 million borrowing initiative council adopted earlier this fall for multiple projects.

The overall cost of replacement through 2027 is pegged at $180 million.

Requests are also in for $1.8 million for public consultation, design and construction of Glenmore and Mission activity centres.

The capital budget also signals the start of construction for a new fire hall in Glenmore. The city is seeking $3 million of the estimated $13.46 million fire hall project.

The report indicates the original site on Glenmore Road proved unsuitable with a revised site now identified.

Council will review the entire budget, both capital and operational spending next Thursday.



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