As part of the budget deliberations, the Town of Comox has approved an Infrastructure Renewal Fund to address the gap between available funding and the amount needed to maintain its infrastructure.
These funds dedicated to capital replacement aim to ensure that essential infrastructure, including facilities, roads, underground pipes, parks, and trails, remains in a state of good repair.
“Investing in this capital replacement fund and representing it on tax notices allows for transparency,” said Comox Mayor Nicole Minions. “Comox is transitioning from a reactive state, which tends to incur much higher costs over time, to a proactive approach where we manage our local infrastructure with careful consideration of risk. With the latest data, the Infrastructure Renewal Fund emerged as the best solution for our community and the essential infrastructure we rely on today and for future generations. The town currently has over $270,000,000 in assets, and maintaining them is part of building a strong, vibrant community.”
Residents will notice a separate line item towards infrastructure renewal with an average charge of $51.70 on their 2024 tax notices, with the same increase applied over the next 10 years (or as amended based on updated yearly information). This charge is crucial for maintaining the town’s infrastructure, as it helps prevent expensive emergency repairs and safeguards citizens’ health and safety by reducing the risk of major infrastructure issues, such as water main bursts or severe deterioration of the roads.
Key infrastructure details include:
• The town owns and manages over $270,000,000 of physical assets including transportation, buildings, equipment, land improvements, storm, water and sewer systems.
• The town requires $3.2 million invested in infrastructure a year to maintain current service levels.
The community can follow the budget process by visiting the town’s website at comox.ca/budget. Residents are encouraged to participate actively by addressing council during the public question period at the regular council meetings or by emailing council@comox.ca. Residents can attend council meetings in person at 1801B Beaufort Avenue or listen online on the Comox YouTube channel.