Council approves new 10-year Asset Management Plan

Plan sets foundation for long-term planning and investment

City Council has approved a new Asset Management Plan (AMP), which outlines how the City will manage and maintain its $4.8 billion in infrastructure for the next ten years (2025-2034) to ensure reliable and sustainable service for the community.

“The city’s infrastructure is the foundation on which we deliver services the community relies on each day. Assets include everything from the roads we drive on to the buildings and parks we gather in as a community. They are the stormwater and wastewater infrastructure, and the equipment used to support services,” said Mayor Jan Liggett. “This plan will ensure we are making informed and responsible decisions to keep critical assets maintained and plan for any future updates as the community continues to grow.”

The AMP helps the City plan for the future and meet Ontario’s rules for managing municipal infrastructure (O. Reg. 588/17). It looks at the condition of City owned assets over their lifespan, includes financial forecasts, and outlines ways to reduce risks and keep things running smoothly.

As shared in the AMP, the City infrastructure is aging and there’s an urgent need to invest in repairs and replacements. To maintain reliable services, approximately $890 million in capital investment is needed over the next ten years with a funding gap of $34.9 million per year.

This challenge isn’t unique to Cambridge. A national report from Statistics Canada found that by the end of 2022, municipalities across Canada needed $294.4 billion to fix or replace aging infrastructure. Only 11% of that was spent that year, and as a result, fewer assets were in good condition (a drop from 59% in 2020 to 55% in 2022).

The City’s AMP shows that 62% of assets are currently in good or very good shape. To keep it that way and address future needs the plan will be updated every five years. It includes major projects like the new Recreation Complex and new funding tools like the stormwater rate and Infrastructure Renewal Fund, which will help close the funding gap and support continued service delivery.

For more information and to view a video about the Plan, visit cambridge.ca/amp