At Finance Standing Committee on July 15th, Council received a report for information on the Infrastructure Funding Gap Review. The 2025 Infrastructure Funding Gap Review provides an updated assessment of the City’s capital infrastructure funding needs across all asset categories, with an annualized funding gap of $33 million. 

In order to narrow the infrastructure gap, staff are proposing the need for additional tax/utility rate funding, as the funding gaps will continue to compound over time. The report hence suggests a 0.5% tax increase for 2027-2030. 

More information can be found in the full report by City staff.