Loyalist Township council has approved its new 2024 Asset Management Plan (AMP) including an estimated infrastructure replacement cost of $774 million. This represents a $104 million increase from 2022. The corporate services, strategy and innovation department presented the draft plan to council at their year-end meeting.
The 2024 AMP looks at keeping up with growing costs over time. The plan details the township’s current state of infrastructure, as well as its established levels of service. The plan also looks at lifecycle and risk strategies.
According to the report, the provincial government’s asset management planning regulation was put in place to assist municipalities in managing their infrastructure. The township’s last AMP was completed in 2022 for core assets in accordance with this regulation.
The approved AMP is now available to the public via the township’s website. Township staff also provided a copy to the ministry of infrastructure.
