As the city continues to market the IMICO property at 200 Beverley, two exciting funding allocations were unanimously approved (13-0) by City Council during the 2016 non-tax supported budget and capital budget processes.
Specific to the approved Capital works budget, over $1M was allocated to existing roadway reconstruction projects detailed in the St. Patrick’s Ward Community Improvement Plan. Further, as part of the Water/Wastewater budget, funding was also approved for upgrading buried infrastructure in the same areas. By coupling these funding needs together, sewer replacement, watermain replacement and stormwater replacement will all coincide with roadway reconstruction as part of a comprehensive asset management renewal program for the Ward.
So how does this help IMICO?
With downstream capacity for stormwater and wastewater identified as potential impediments to intensification on the property, these infrastructure and capacity investments serve to better position the property for future use. Further, these investments will also benefit ongoing property redevelopment at 5 Arthur St, and the York Road/Wyndham St redevelopment. As the city continues to market the IMICO property to potential suitors, these investments are a welcome sign.
As always if you have any questions or would like to discuss further please feel to reach out to me by phone or email.
Ward 1 City Councilor