The city expects to be able to offer a draft 2023 budget plan for public review in early December before council approves it in January.
The city council approved the budget guidelines during Monday evening meetings.
Ratepayers could see a 3-4% increase next year, according to a summary of the city’s Monday night meeting.
“Due to the uncertainty surrounding various fiscal pressures, such as fuel prices, insurance costs, and general inflationary impacts with the high level of inflation currently being experienced in the economy, the 2023 preliminary fiscal guidance presents a recommendation to set a target range. from 3% to 4% for the all-inclusive residential property tax increase (municipal, school, health) in 2023,” the summary states.
“Fuel price increases alone are expected to add nearly $2 million in costs in 2023. General inflation costs are currently projected at $600,000 and insurance cost increases are expected to be $465,000. in 2023. Several other budget pressures are contemplated as the city begins to plan for 2023.”
The increase would add $51 to $68 to the combined municipal, school, storm and sewer surcharge for every $100,000 of assessment.
Water, waste water, storm water
City Council approved the receipt, for information, of a presentation on the possibility of combining water, wastewater and stormwater service delivery, which would include a report to the new Council in 2023 with a change management plan that includes public consultation, the summary says.
City staff recommended that the city provide water service directly, combining it with wastewater and stormwater service delivery to create savings in water service delivery. Water service is currently managed by the Peterborough Utilities Commission (PUC), while sewage and stormwater services are provided directly by the city.
The Board agreed to receive a presentation from Peterborough Utilities for information. He was not in favor of pursuing next steps on the possibility of combining water services.
A trend identified by municipal staff as part of the review is that many municipalities have moved to combined water and wastewater master plans, with some municipalities moving towards a “one water” approach.
“A water is an integrated approach to water management that focuses on the complete water cycle in all its forms (e.g. drinking water, wastewater, rainwater, surface water and groundwater) , rather than segmented drinking water planning, management and distribution. , sewage and stormwater systems,” the summary states.
“Some of the benefits of an integrated approach to one or more waters are believed to include: increased opportunities for innovation, optimized use of existing infrastructure, reduced need to build new infrastructure, and reduced pressure on natural resources and financial.”
A service delivery review included a review of the city’s existing water, wastewater and stormwater service delivery models and operations, identification of best management practices and current trends and future, the identification of alternative organizational approaches and a cost-benefit analysis of the current model in comparison with the alternatives.
Peterborough Public Services
City of Peterborough Holdings Inc. applied to the board on Monday evening for an equity investment of approximately $20 million for a confidential investment opportunity in a public company’s power plant portfolio.
This would involve using proceeds from the city’s sale of Peterborough Distribution Inc.
Councilors agreed to receive the presentation for information.
The investment opportunity is expected to generate a return on investment in the range of 7-12%, the board said.
The value of the investment opportunity is estimated between 70 and 90 million dollars. COPHI would arrange to fund the balance of the required funding beyond the city’s investment, the summary states.
Peterborough Airport Masterplan
The Board endorsed approval in principle of a new Peterborough Airport Master Plan for the next 15 years.
The plan calls for capital costs of $80.9 million for infrastructure rehabilitation and reconstruction, service improvements, land acquisition, infrastructure expansion, development of passenger processing facilities and airport plans and studies.
This could include expanding charter air service to vacation destinations and scheduled passenger service through a low-cost airline.
Other priorities include expanding aviation services, including support for electric aircraft, aerospace research and education, more recreational aviation and other services.
The airport’s economic impact on Gross Domestic Product (GDP) continues to grow from $41 million in 2009 to $90 million in 2022, representing annualized growth of approximately 9% per year, the advisers said.
Receipt for information
Council supported the receipt of an information report to provide an update on the Smart Signage Pilot Project on Lansdowne Street, Webber Avenue to Monaghan Road.
The Lansdowne Street Smart Traffic Signal Pilot Project was implemented to determine the advantages and/or disadvantages of adaptive traffic signal control technologies over traditional time-of-day traffic signal control. daytime.
Council also approved the receipt, for information, of a recommendation to extend the 24/7 overflow shelter service until March 31 at a cost of $267,000.
The city’s emergency shelter network operates 104 accommodation beds in Brock Mission, Cameron House, YES Shelter for Youth and Families and the Wolfe Street Overflow Shelter.