Ontario Construction News staff writer
Quinte West has approved a 6.7 per cent property tax increase, including $25 million to fund capital projects this year.
The 2024 capital budget includes $12.7 million for road work, with $1.55 million for the reconstruction of a portion of Victoria Avenue.
Also, council approved $700,000 for the housing affordability reserve – the largest commitment to support affordable housing solutions to date.
“Council is pleased to approve the 2024 budget focusing on supporting City reserves for affordable housing solutions and fixing critical roads, water and wastewater infrastructure,” said Quinte West Mayor Jim Harrison. “Despite various challenges like decreased provincial funding and pressure from inflation, this budget will maintain current service levels and ensure Quinte West is positioned for long-term financial stability.”
The capital budget is based on a ten-year plan that outlines long-term investments, such as renewing existing roadways, renovating city buildings and arenas, and buying equipment used to provide services.
The approved 2024 budget allocates an additional $1 million (1.5% of the total tax levy) to the city’s capital program.
The approved 2024 budget book will be available online at quintewest.ca/budget.