Sustainable Canadian Local Governments Asset Management Fund

Whereas Canadas infrastructure deficit is estimated to be as high as 570 billion with almost 60 of the deficit within local government jurisdictions; And whereas the costs to replace and repair local government infrastructure for critical services such as roads, arenas, bridges, drinking water and wastewater systems are estimated to be 141 billion, which is well beyond the financial capacity of local governments across the country due to limited revenue generation options, and all while costs for infrastructure renewal continue to escalate at an exponential rate: Therefore be it resolved that UBCM urge the Government of Canada to create a sustainable and reliable local government asset management fund, like the permanent Building Canadas Public Transit Future Fund, to increase investments in infrastructure renewal, which is essential to enhance public safety, reduce health risks, ensure economic sustainability, and lessen the financial burden on future generations to pay for the infrastructure deficit.