THUNDER BAY -- It would cost every household in Thunder Bay $59,301 to replace the city's infrastructure.
With $3 billion in assets, infrastructure in Thunder Bay is getting a C overall in a report to city council that outlines a $17 million infrastructure deficit and recommendations on how to close the gap.
The report card outlines eight major asset categories from roads to the city's fleet. It would cost $561 million to replace the city's roads alone. The network got a C for condition with 91 per cent in fair condition. It's funding though is at a D, with historic spending at 45 per cent of what's needed to maintain the system.
City sidewalks appear to be the most in need as over 70 per cent are in poor or critical condition with only 27 per cent being spent on what's needed.
The report recommends that council continue making increases to its Enhanced Infrastructure Renewal Plan, which was $2.5 million last budget season, every year for the next 11 years while also taking on $6.97 million in debt annually.
With a $1 million deficit for water distribution, after the 4.2 per cent increase last year it's recommended the increases slow down until 2.5 per cent in 2027. That's assuming a $58.4 million debt issued over a dozen years.
Sewers show a $5 million deficit. That would also take on $42.8 million in debt over 11 years and then $1 million every year after while also increasing revenue through internally developed cash flows the report states.
Administration says while debt increases the cost of a project, it also spreads that cost out for future users and gets full funding more quickly.
