Monday, March 11, 2013

Vernon faces a $78 million infrastructure deficit

By Richard Rolke - Vernon Morning Star Updated: March 11, 2013 12:08 PM
The City of Vernon has a huge hole to fill. Council was informed Monday that the city's infrastructure deficit is $78 million. "The plan is trying to come up with solutions that make it more affordable," said consultant Michael Trickey as he presented an asset management investment plan. Of that $78 million road upgrades account for $40 million. Council has been told that the ideal budget to deal with the infrastructure deficit is $17 million a year. "Right now, you are at the 40 per cent range of that," said Trickey of the $6.8 million the city spends annually. Work on the process will continue and council will consider a 15-year capital plan and three-year capital implementation plan in October. Look for more in Wednesday's Morning Star.
-------
P.10 of Agenda Package

No comments: