On December 11, Hamilton City Council approved the 2014 Tax-Supported Capital Budget and 2014 Rate Budget.
Links to the 2014 Capital Budget reports:
2014 Tax-Supported Capital Budget Overview
The 2014 Tax-Supported Capital Budget supports $288 million in infrastructure investments citywide. The 2014 Tax-Supported Capital Budget focuses on balancing the City’s fiscal health, while continuing to invest in Hamilton’s future.
Council found savings by reducing proposed capital project budgets, deferring proposed capital projects, and reallocating proposed funding of capital projects. The total savings to the 2014 Tax-Supported Capital Budget, as a result of the approved savings in the amount of $3,386,000 (0.5%), were applied to reduce the proposed 2014 tax impact.
The proposed tax levy increase of 0.5% dedicated to the Tax-Supported Capital Budget was reduced to 0% thereby reducing the proposed tax levy impact of the 2014 Tax-Supported Operating Budget from 2.8% to 2.3%.
Highlights of the Approved 2014 Tax-Supported Capital Budget include enhancements to our built environment, meaning safer roads, bike lanes, transit, more parks and investment in our City’s waterfront. Additionally, this budget supports the well-being of our community with investments in long-term care and seniors centres, and recreation centres community wide.
- $97 million investment in roads
- $69.1 million for the Pan Am Games ($57 million subsidized by the province /Hostco contributions)
- $15.8 million for Transit
- $8 million investment in the Pan Am Precinct for recreation and parks
- $7.7 million investment in West Harbour Development
- $3.9 million Confederation Park Redevelopment
- $3.5 million for Parkland Acquisition
- $7.7 million to maintain and enhance Recreation Facilities citywide
- $3 million for Pan Am Precinct Recreation & Senior Centre
- $1.7 million for Long-Term Care Homes “Lodges”
- $2.6 million for downtown area projects
- $2 million investment in Hamilton Conservation Authority and Westfield Heritage Village.
- $0.571million CityHousing Hamilton
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