Owen Sound residents can now view the draft 2022 Capital Budget and Five-Year Capital Program. The draft 2022 capital budget includes funding for more than 70 projects totalling $15 million.
The majority of the 2022 capital funding is allocated toward roads and sidewalks, with 58 per cent of the funding directed to the City’s transportation network.
A media release reported the projects related to downtown revitalization and facility repairs and upgrades are proposed to receive funding at just under $2 million each.
The draft 2022 capital budget benefits from $6.9 million in grants and external contributions, extending the value of every tax dollar received.
The spending plan will also be reviewed by Council as part of the 2022 Budget process at a special meeting on November 12, 2021, starting at 9:30 a.m.
The media release said, "As part of the City’s commitment to robust, long-term financial planning, the five-year capital program captures the phases of multi-year projects such as the Downtown River Precinct and Alpha Street Reconstruction, and supports the City in proactively identifying funding opportunities."
The City of Owen Sound five year Capital Plan includes an over $9-Million proposal to reconstruct Alpha Street. The multi-year project would include reconstructing the road, replacing all underground infrastructure, new curbs, gutters, and sidewalks, along with the possibility of streetlights.
The project portion in 2022 would be entirely funding through debentures. That would cover the engineering phase. The project is expected to be complete by 2026.
Residents can find the draft 2022 Capital Budget and Five-Year Capital Program at www.owensound.ca/2022budget. All budget meetings will be streamed online on the Council and Committee webpage.
