Today, Jennifer O'Connell, Parliamentary Secretary to the Minister of Intergovernmental Affairs, Infrastructure and Communities, and Scott Pearce, Acting President of the Federation of Canadian Municipalities (FCM), announced a federal investment of more than $800,000 to help 18 Ontario communities put in place innovative asset management strategies.
Asset management helps communities manage municipal infrastructure assets such as roads, arenas, bridges, drinking water and wastewater systems to ensure maximum performance and make better investment decisions. Asset management also helps reduce risks so municipalities can provide reliable and affordable services and a high quality of life to their residents.
This funding will help strengthen data-driven decision-making on key infrastructure and ensure long-term infrastructure performance. Among the recipients:
- The County of Norfolk receives $50,000 to assess the condition of the County's facilities' building components, including detailed information collection on each individual building component and their expected useful lives. The information gathered will be entered into the County's asset management software and will guide long-term asset management plans.
- The City of Toronto receives $50,000 to develop a Fine Art Asset Management best practice guide for the Toronto History Museums (THM) through a digital inventory of the City of Toronto's Fine Art Collection. This project will build best practices reference materials through capturing visual images and comprehensive records of the Fine Art Collection, standardizing asset information, risk assessment, evaluation and appraisal records, and database maintenance.
- The City of Niagara Falls receives $50,000 to undertake condition assessment activities at 22 of the City's stormwater management ponds and to use the results to build a multi-year operating and capital budget forecast. The planned work and schedule will allow the City to inform the budget and forecast and provide the City with a solid baseline to develop its asset management plan for its stormwater management assets.
