The Capital budget was approved last week.
The 2024 Capital Budget is heavily focused on managing existing assets like roads, facilities, and water and wastewater treatment plants.
For the first time in Norfolk history, the 10 year forecast for capital projects has crossed the $1 billion mark.
Highlights of the capital projects to be initiated in 2024 include:
· Simcoe Wastewater Treatment Plant Upgrades ($58.3 million)
· Port Dover Wastewater Treatment Plant Upgrades ($29.4 million)
· Road Reconstruction Program ($16.6 million)
· Port Rowan Water Treatment Plant Upgrades ($14.1 million)
· Simcoe Recreation Centre Retrofit ($4.1 million)
· Dressing Room Expansions – Arenas ($8.5 million)
· Accessible Parking – Norview Lodge ($0.9 million)
The impact of capital financing on the 2024 Levy and Rate Supported Operating budgets as a result of the Budget Committee approval will be 4.15 percent on the net tax levy and 6.9 percent on the net rate requirement.
These increases will be incorporated into overall tax and ratepayer impacts when the respective operating budgets are reviewed.
The budget is not final until ratified by Council on November 21st.
Written by Matt LeBlanc
