Quarterly Capital Budget Adjustments and Closeouts

Motion 7 · Standing Committee of Council on Policy and Strategic Priorities, May 31, 2023

Carried Moved by Adriane Carr

Summary

Approved a $3.2 million increase to the 2023–2026 Capital Plan and a $31 million increase to multi-year project budgets.
Key adjustments driven by construction cost escalations: sewer renewal in the Hastings Sunrise basin (+$7 million), sewer upgrades at Oak Street and West 49th/54th (+$8.2 million), and new park at Main and 7th Avenue (+$1.7 million).
Closed out three completed capital projects with surpluses or deficits exceeding $200,000.
Total approved multi-year capital project budgets across all open projects now stand at approximately $3.1 billion.