Sustainable Infrastructure Replacement Plan
The District of Oak Bay is pleased to announce the publication of its first Sustainable Infrastructure Replacement Plan that was presented to Council at the September 27, 2021 meeting.
The objectives of the Plan are to:
- forecast recommended infrastructure spending for the next 50-100 years,
- recommend funding levels required to support long term infrastructure replacement, and
- develop different options to address the forecasted funding gap.
A significant portion of the District’s water, sanitary sewer, storm, and road assets are past their recommended useful life with many other assets well through their recommended useful life and due for replacement imminently. Replacement of these assets is critical and will come at a significant cost. While historic and current funding levels are not sufficient to replace assets at the recommended pace. Council has provided the strategic direction to address this issue through developing an asset management program, increasing funding, and expanding capital programming.
Asset Management BC (AMBC) has recently endorsed the District’s process of creating the Sustainable Infrastructure Replacement Plan as a step to achieving financial sustainability. Asset Management BC is a community of individuals, organizations and agencies learning, collaborating, and developing best practices in asset management.