Wednesday, September 25, 2019 ~ VANCOUVER
~ West Shore Voice News
It was smiles all around for Colwood Mayor Rob Martin and his council on Tuesday September 24 as they were awarded a Community Excellence Award by the Union of BC Municipalities (UBCM) at the UBCM 2019 convention at the Vancouver Convention Centre.
Mayor Martin was clearly pleased with the recognition: “We are honoured that this work has been recognized by the UBCM with a Community Excellence Award for Asset Management.”
“Over the next 20 years communities will be hit with considerable costs to replace or renew aging roads, pipes, drainage systems and other infrastructure,” said Mayor Martin.
“Colwood’s forward-thinking Colwood Sustainable Infrastructure Replacement Plan sets aside funding each year to ensure infrastructure costs are not passed on to future generations,” he said.
Colwood financial director Christopher Paine and his departmental staff were commended by Colwood Mayor and Councl at a council meeting a few months ago.
The award recognizes projects and programs that demonstrate a comprehensive system of asset management policies and practices that meet and/or exceed accepted best practices. Colwood’s Sustainable Infrastructure Replacement Plan was selected from six applications as the winner in this category at this year’s UBCM Convention.
“It also means that Colwood taxpayers can rest assured that their city’s assets will be maintained for generations to come, thanks to responsible planning by City staff and Council,” it was stated in a Colwood news post yesterday.
Here’s why Colwood’s effort was recognized:
When you know your roof will need replacing within five years, you start setting money aside for the work. That’s asset management. Responsible management of assets like roads, parks, natural assets, sewer and drainage systems, buildings and vehicles is one of local government’s primary responsibilities. The City of Colwood owns and maintains about $350 million worth of infrastructure.
Over the next 20 years communities across Canada will face considerable costs to replace or renew these assets. In the absence of sound asset management practices, many communities will face a significant funding gap that will rest on the shoulders – and in the wallets – of future generations.
It costs nearly $5 million annually to keep all of Colwood’s infrastructure in good working order and provide the services citizens expect.
The Sustainable Infrastructure Replacement Plan sets aside the appropriate budget each year to ensure funding is in place to avoid sharp, sudden tax increases required due to unanticipated infrastructure breakdown.
The City of Colwood says that their plan creates stable and predictable tax rates, avoids added debt servicing costs, takes advantage of investment returns, and supports their community’s resilience to change.