The exterior of Saint John City Hall is pictured in this file photo. Image: staff photo
Members of the city’s finance committee were able to glance at the 2023 and 2024 proposed draft general and utility fund capital budgets.
City staff presented the figures during a finance committee meeting.
The overall two-year budget is $65,821,895, while the utility fund budget is $28,222,277.
The general budget for 2023 and 2024 will include funding for new investments, such as redeveloping Barbour’s General Store site and Loyalist Plaza.
“As well as transit redesign, as well as the redesign of the main street, to allow for a permanent bike lane, also there will be continued new investments for 2024 we’re looking at the retail drive realignment, harbour passage extensions, as well as various cycling improvements,” mentioned Craig Lavigne, senior finance manager for the City of Saint John.
Other topics under the multi-year capital budget include asset renewal, maximizing funding opportunities, numerous city-approved plans, and council priorities.
“Overall and looking at it holistically from a high level I thought it’s very strategic, and I’m very, very pleased to see it, and when I read it I thought [city staff] really aligned the budget with the priorities this council has hammered out,” mentioned Mayor Donna Reardon.
While the budgets are still in the early stages, finance committee chair, Councillor Gary Sullivan mentioned a multi-year approach can help Saint John plan more efficiently for its future.
“As well as potentially put tenders out a little earlier to get some advantage there, so if things are approved two years out it allows staff to keep their eyes out for funding partners, and it’s part of our transition to a 10-year capital.”
The first draft was received and filed by the city’s finance committee.
It will go back for review at a later date.
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