Carleton Place accepts 10-year capital plan

May 24, 2018 by

Carleton Place Construction copyAn updated 10-year capital plan for the town of Carleton Place was accepted by town council on Tuesday night.

The plan, discussed during a meeting of the town’s Policy Review Committee, outlines what town projects are expected to be completed over the next decade and their associated costs.

There are 218 projects totaling an estimated cost of $98 Million dollars on the current version of the plan.

Most of the project expenditures will be related to core services such as road, sewer and water services which are expected to cost the town nearly $78 Million.

The plan lets town staff to begin develop ways to pay for projects based on their nature and priority. Currently, the town will fund most of these projects using growth reserves, taxation, provincial grants and debt, but there are other sources of revenue which are project specific.

Notable investments included in the plan are the replacement of the Central Bridge as well as expansions to the town’s sewage and water treatment plants.

The 10-year capital plan will be updated annually to take into account changes in project scope as well as changes like the proposed adjustments to Carleton Place’s development charges bylaw, which could create more funding for growth related capital projects.