Distributed February 15, 2016 2:45 PM
Nanaimo receives federal Gas Tax Fund contribution for asset management
The City of Nanaimo has received $39,500 from the federal Gas Tax Fund which it will put towards a comprehensive risk framework for asset management. The funding will enable staff to access asset management risk tools for infrastructure and financial planning.
Strategic Link: Taking responsibility to be an excellent municipal government through investment in asset management.
- The $39,500 in funding will assist the City in developing priorities for investment and replacement of assets using a risk based framework.
- This project is one of the 57 projects that are being funded through the Strategic Priorities Fund under the federal Gas Tax Fund for 2016.
- The funding amount the City of Nanaimo received was determined through an application process.
- The Union of BC Municipalities administers the federal Gas Tax Fund in British Columbia in partnership with the Government of Canada and the Province of British Columbia.
- Each year, the Government of Canada provides over $253 million in indexed funding for local government infrastructure projects across British Columbia through the federal Gas Tax Fund.
- The funding can be spent on any eligible project the community prioritizes across a broad range of eligible project categories, or it can be pooled with other communities for regional projects, banked for later priorities or used to pay for financed projects.