Town Council approves 2022-23 Capital & Operating Budgets

COUNCIL NOTES - APRIL 11, 2022, REGULAR & BUDGET MEETING
>>> Town Council approves 2022-23 Capital & Operating Budgets

On Monday night, Bridgewater Town Council concluded its 2022-2023 budget planning process by unanimously approving both the Capital and Operating Budgets for the coming fiscal year. The budget calls for no residential or commercial tax rate increases in the community for 22-23.

Bridgewater's budgeted gross operating expenses for the coming year will amount to about $25.9 million. On the capital side of the ledger, Bridgewater's gross capital expenditures are budgeted to total $26 million, with $16 million in new capital investments planned and $10 million being carried over from 2021-22, making it the largest single-year capital investment in the town's history.

"We're preparing our community to meet the demands of the future and to ensure that Bridgewater can thrive as more and more people come to the South Shore, and in particular to our community, to live, work, play, and grow together," said Mayor David Mitchell.

"Our Council is investing significantly in roads, water, and wastewater infrastructure, and that will continue to position Bridgewater as a destination of choice for developers looking to build more housing - including affordable housing projects," Mayor Mitchell added.

BUDGET HIGHLIGHTS
► Residential tax rate remains at $1.75 per $100 of assessment.

► Commercial tax rate remains at $3.97 per $100 of assessment.

► There will be a 5% increase in the Wastewater rate, with money from that increase being set in reserve for future wastewater-related capital projects.

► The commitment of $26 million in capital projects this year includes:

- A total of $5 million will be invested in wastewater infrastructure to support residential and business growth and development. Ongoing investment in wastewater infrastructure and capacity will also have positive implications for the environment and the health of the LaHave River.

- A $4 million investment in road upgrades, including major infrastructure renewal projects on High Street and St. Phillips Street, and more than $800,000 dedicated to pavement renewal projects throughout Bridgewater.

- Detailed construction design work ahead of future infrastructure and paving improvement projects earmarked for Empire Street.

- Ongoing investment in infrastructure work in the Bridgewater Business Park and the lands surrounding the new Exit 12A interchange, amounting to approximately $3.6 million.

► The Town's commitment to core services and strategic priorities remains strong, including allocations for Fire Protection ($1.5 million), Bridgewater Police Service ($4.0 million net), and REMO ($31,458).

Energize Bridgewater's PACE program has been expanded to allow more homeowners to make affordable housing upgrades that will save them money over the longer term. The Town also continues its investment in Bridgewater Transit service, which has seen ridership remain strong, even through the pandemic.

► Council is also investing in several initiatives designed to enhance quality of life in the community and enhance Bridgewater's profile as a desirable destination:

- An allotment of $230,000 total has been earmarked for Bridgewater Memorial Arena, with renovations scheduled to take place this year in the second-floor Auditorium. Additional renovations will also take place on the main floor stemming from the planned removal of the Annex, while roof repairs for the building will be carried over from 21-22 and completed this spring.

- The pilot project to provide wintertime maintenance to select trails in Bridgewater is being continued and there will also be additional investments made to enhance the wintertime sidewalk clearing program.

- Council is also investing in placemaking and the community's Active Transportation Plan, with the implementation of a trail on High Street and dedicated park improvements throughout the community.

- Bridgewater is also continuing to support non-profit organizations in the community and the work they do through $29,000 in direct investments by way of grants, and approximately $100,000 in indirect support by way of property tax exemptions.

► Download the full budget document at www.bridgewater.ca/budget22.

WATCH THE MEETING -- To watch the final meeting and approval for the 2022-2023 Town of Bridgewater Capital & Operating Budgets, click here.

"The investments we make in our town today will continue to pay dividends for years to come," Mayor Mitchell said. "From wastewater to roads, from community safety to various programs and services, we know the work that needs to be done and this budget helps get us there."