That with respect to Report EC2025-0727, the following be adopted: That Council: Direct Administration to return to the 2025 November Adjustments to the 2023 2026 Business Plans and Budgets with a recommendation to help address the infrastructure maintenance funding gap by increasing capital budget by $62.2 million in 2026, funded from a one-time realized gain on sale of investments that will be contributed to the Fiscal Stability Reserve at year-end. Direct Administration to identify a sustainable long-term funding source to support the change in terms of reference for the Reserve for Future Capital and Lifecycle Maintenance and Upgrade Merged from 2.6 per cent to 5.0 per cent of annual property tax revenue, and to return to Council with a recommendation as part of the 2027 - 2030 Business Plans and Budgets.
Council approved adding $62.2 million to the 2026 capital budget to help fix infrastructure needs. That money will come from a one-time realized gain on the sale of investments and be placed into the Fiscal Stability Reserve at year-end. Council also asked Administration to find a sustainable long-term funding source to increase the Reserve for Future Capital and Lifecycle Maintenance from 2.6% to 5.0% of annual property tax revenue and to return with recommendations as part of the 2027–2030 budgets. A separate proposal to require that the long-term funding come from sources other than increasing the property tax allocation was proposed but voted down.
This action provides immediate funding to address an identified infrastructure maintenance gap, sets a formal direction to identify sustainable long-term funding for capital lifecycle needs, and could influence future budget or tax decisions depending on the funding option recommended.