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Council Review Capital Budget

Tuesday, 21 February 2012 06:35

Transportation is the focus of new work ahead in Woodstock this year. The city's capital budget plans have been tabled, showing 14.3-million dollars in total spending. That includes 3.3-million for road resurfacing, and a new downtown transit terminal are among the big ticket items. But thanks to some accounting magic, the city may actually only borrow 900-thousand dollars to finance all that new work. City CAO David Creery says the new downtown transit terminal will be paid for entirely without hitting property taxes. "We're showing it being fully funded by external sources...ranging from provincial dedicated gas tax to federal gas tax to historical transit grant funding and other one-time provincial grants." City Council still has to pass the budget at a future meeting. But as Creery points out, there are other concerns that are not being addressed in the capital budget. "Replacement of aging facilities. We've also identified Lions Pool being 65-years-old, Civic Centre Arena at 45-years-old, they're starting to reach ages that we should be looking at facilities to replace them." Creery says those issues will be addressed as the city undertakes a new strategic plan in the next year. The list of roads slated for reconsruction: Bowerhill Road - Mill St. to City Limits Victoria St. North - Canterbury to Edward Victoria St. South - Devonshire to Grant Lyndale Crescent - Sprucedale to Dunvegan George St. - Wellington to Huron Cromwell St. - Bellgrave to Clarke Pittock Park Road - Hwy 59 to Frederick Marshall Crescent Riddell St. - Ingersoll to Hunter

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