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You are on the [Capital Budget Media 2008 Summary] page of folder [Capital Budget 2009]
For the cover page of this folder go to the Capital Budget Media 2008 Summary
posted on December 08, 2008
Coughing up from the coffers
Published: December 8, 2008
Source: The Globe and Mail"The city got the dough, so where did it go?
It's a question bugging a few councillors and business leaders, who wonder where the city has stashed $238-million in provincial infrastructure dollars put on the table last August as part of a $1.1-billion package for all Ontario municipalities.
Watch for Mayor David Miller to be pressed for answers when council meets on Wednesday to adopt the $1.6-billion capital budget for 2009. Last week, Toronto Board of Trade president Carol Wilding called on the city to enact special stimulus measures, using the $238-million dollop from the province, to ease the downturn.
"These [provincial] dollars don't appear to have been utilized in the recent [city] capital budget," she said. "
posted on November 05, 2008
Mayor says now is the time to spend
City's plan to lay out $1.6B next year would push the debt load to $2.7B
By: BRYN WEESE
Published: 31st October 2008
Source: Toronto SunThe city's plan to spend $1.626 billion in 2009 could not have come at a worse time, some critics charge.
The city proposed its 2009 and 2009-2013 capital plan yesterday which, if approved, would add $367 million to the city's debt.
It would bring the city's total debt load to $2.7 billion.
"The first rule of holes says that when you're in a hole, stop digging.
Instead, what the mayor has done is he's brought a shovel and he's digging the hole deeper by increasing debt, increasing spending and he's dragging taxpayers down with him," said Kevin Gaudet, the Ontario director of the Canadian Taxpayer Federation.
posted on November 05, 2008
Toronto should use provincial money to fund infrastructure
Published: Oct. 31, 2008
Source: News WireTORONTO, /CNW/ - This morning, at a Canadian Urban Institute session, Dr. Enid Slack, with the Institute on Municipal Finance and Governance, said infrastructure, from water pipes to transit, should be the first place The City of Toronto invests new money from the McGuinty government. "The area (infrastructure) is screaming out for investment."
posted on November 05, 2008
Road repairs in the slow lane
City budgets $173M to repair 420 km of roads and 80 bridges next year, but critics say it's not enough
By: BRYN WEESE
Published: 31st October 2008
Source: Toronto SunThe city's teeth-chattering roads will get worse before they get better, despite the fact that the city is poised to spend $1.626 billion in 2009 on capital projects.
In fact, Toronto won't begin to make headway on its road repair backlog for another eight years.
The proposed 2009 capital budget was released yesterday, as was a spending plan for the next four years and -- for the first time ever -- a 10-year spending forecast, which will have to survive three municipal elections.
posted on November 05, 2008
Miller on track to double T.O.'s debt
By: SUE-ANN LEVY
Published: 31st October 2008
Source: TORONTO SUNAfter budget chief Shelley Carroll and Mayor David Miller had shamelessly sung the praises of their "prudent" 2009 capital budget yesterday, I asked if one or the other could illuminate us as to the city's current total debt.
After all, given that the city was planning to finance 23% of the $1.6-billion capital budget with $367-million more in new debt, I wondered what that meant for the city's steadily ballooning long-term debt figure -- and how much of the operating budget would go to service that debt.
Our strong mayor deferred to Carroll to answer. The Mistress of Doubletalk tried to steer me in quite another direction.
"This is new debt ... this is a budget that's funded on a combination of things ..." she said, before I asked her again, and a third time, for the projected 2009 total debt figure.
"They're in the presentation ... I can leaf through this (presentation) or you can find them ... I know they're in the presentation," she said.
posted on November 05, 2008
City rolls out $1.6B capital budget plan
By: Paul Moloney
Published: October 31, 2008
Source: The StarNow is not the time to cut infrastructure spending, Mayor David Miller said yesterday at the rollout of Toronto's $1.6 billion capital budget.
"It's very clear at a time of economic uncertainty such as this, governments should be investing, particularly in the infrastructure that helps build a strong economy."
Miller welcomed the appointment of John Baird as federal infrastructure minister, saying he hoped the appointment "is a signal from the federal government that they share that view, that it is time to invest in Canada's aging infrastructure."
posted on November 05, 2008
Toronto proposals put transit ahead of repair backlog
City will continue to decline, critics say
By: JENNIFER LEWINGTON
Published: October 31, 2008
Source: The Globe and Mail"Funding for new buses, bike lanes and community centres top the list of projects for the city's $1.6-billion capital budget released yesterday, but a backlog of repairs to roads and parks will grow for several more years.
"In an uncertain economy, we must be prudent but we also have to plan and invest for the future," said Toronto Mayor David Miller, as he laid out proposals that head to the budget committee for debate next week."
posted on November 05, 2008
City left holding bag on grand plaza plan
Search abandoned for partner to help pay Nathan Phillips cost
By: John Spears
Published: October 31, 2008
Source: The StarThe City of Toronto has quietly put aside plans to raise money from private donors to redesign Nathan Phillips Square.
The renovation of Toronto's signature plaza will go ahead, city officials say – but how quickly and at whose expense is less certain.
When the city approved the square's redesign 19 months ago after a high-profile international competition, councillors were told $25 million of the $42.7 million cost would come from private donations.
posted on November 05, 2008
CITY HALL: New projects, more debt proposed in city capital budget
By: DAVID NICKLE
Published: October 30, 2008
Source: Inside TorontoPublic transit, bike lanes, roads and community centres will all get a boost in 2009 - and so will the city's debt - in Toronto's capital budget introduced by city officials Thursday afternoon.
Toronto's capital budget this year will total $1.626 billion of the city's $8-billion-plus total annual budget.
The capital budget covers new buildings, roads and equipment - so-called hard infrastructure.
While the city can't borrow to cover its operating costs, it can to cover capital and this year it will be increasing its debt load by $367 million.
But Mayor David Miller and budget chief Shelley Carroll said the debt load was reasonable - well under city targets, such that by 2013, staff are projecting the city won't take on any new debt.
posted on November 05, 2008
Hall Monitor: City unveils 2009 capital budget
By: Allison Hanes
Published: October 30, 2008
Source: NATIONAL POSTMayor David Miller on Thursday unveiled Toronto's $1.6-billion proposed capital budget, which calls for major investments in public transit, road repairs, libraries and community centres.
Uncertain economic times call for government to step up and spend on projects that create jobs and bolster the economy, he said.
"When I studied economics, I studied Keynesian economics, and it’s very clear that at a time of uncertainty like this, governments should be investing, particularly in infrastructure that helps build a strong economy," said Mr. Miller "Public libraries are just as important to the economy as public transit. We’re investing."
posted on November 05, 2008
City's library board seeks 7.1 per cent budget hike
By: John Spears
Published: October 22, 2008
Source: The StarWeeks after Mayor David Miller directed all city departments and agencies to flatline their budgets for 2009, the Toronto Library Board is asking for a 7.1 per cent budget increase.
The board wants to spend an extra $11 million to bump its budget to $166.8 million.
Members say the money is needed in part to extend the same level of service to all areas of the city.
The hike is far beyond the zero-increase target Miller set. In fact, departments and agencies were asked to try to cut 2009 spending by 2 per cent to ease inflationary pressures. On the other hand, Miller is a big booster of the library system; he often cites it in speeches as the world's best and busiest.
Councillor Janet Davis – Miller's designated representative on the library board – backs the proposal.
posted on November 05, 2008
Brace for 2-4% tax hike, Mayor says
By: John Spears
Published: October 07, 2008
Source: The StarToronto property taxes are likely to increase by between 2 and 4 per cent next year, Mayor David Miller says.
"Yes, there could be a tax increase," but it should remain in line with inflation, the Mayor said today.
"I've asked, if (city staff) recommend one, that it be in line with inflation, which so far this year has been 3.6 (per cent) I think – so in the range of 2 to 4 per cent."
The city's 2009 budget is in its early stages of preparation. Miller said that the federal and provincial governments' tax revenues tend to rise automatically with inflation so they don't have to boost their tax rates, but the city has to increase its tax rates just to keep even with inflation.
posted on November 05, 2008
Repair roads, rinks, not city square: councillor
By: Allison Hanes
Published: October 31, 2008
Source: National Post"In tough economic times, some city councillors question whether Toronto really needs to spend $40-million over the next five years for a makeover of Nathan Phillips Square, another $70-million for bike lanes and $10-million to study tearing down part of the Gardiner Expressway.
Mayor David Miller yesterday unveiled the city's $1.6-billion capital budget for 2009, which will put the city debt at $2.9-billion, double what it was when Mr. Miller took office.
Councillor Denzil Min-nan-Wong (Don Valley West) argued the city is not investing enough on such essentials as a $310-million road-repair deficit and a $230-million-and-growing recreation centre backlog, which would improve basic services for Torontonians."