City has billions worth of assets

A staff report says the estimated cost to replace all of the city’s assets would be nearly $3.2 billion.  

That includes bridges, roads, facilities, water-related infrastructure and more.  

Tuesday night’s council agenda includes a recommendation to receive and refer the city’s asset management plan to the General Government committee.  

It shows the required annual life cycle investment in assets would be over $80 million.  

“Currently the City of North Bay is planning to invest on average $51.9 million annually; thereby, leaving an annual funding shortfall of $28.8 million,” states a staff report.  

The report also looks into risks with one being climate change and extreme weather events.  

"This vulnerability may result in potential service disruptions, operational downtime, and increased costs from additional wear and tear on assets,” states the report.   

It points to data suggesting the possibility the municipality will see an increase in precipitation and an overall increase in mean temperature into the next century.  

Another risk is what staff say are ongoing challenges with hiring and knowledge transfer as experienced staff retire, which they add is worsened by a tight job market. 

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