Hamilton city council defers capital budget talk to January

City councillors will need time before approving Hamilton’s next capital budget – which has been set at a proposed $285.7 million for 2023.

Council voted 13-to-3 in favour of deferring the money talk until Jan. 20 to give new councillors more time to get familiar with the process.

Most of the budget, close to three-quarters, will be allocated to maintain infrastructure and keep facilities in a “state of good repair.”

The absence of capital projects seen in 2022, like the Macassa Lodge redevelopment, adding green space at Brightside Park, and additions to West Harbour and the waterfront will decrease the overall investment year-over-year from $386 million to around $286 million in 2023.

About 40 per cent of revenue to finance that budget is expected to come from an estimated $113.6-million transfer from the city’s yet to be determined operating budget.

Other large pieces are expected to come from the other two levels of government and developers.

City manager Janette Smith says a staff report will be coming sometime early in the new year that offers process options for council in determining priorities over their four-year term.

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Smith said staff did not want to presume priorities from the previous council would be the same.

“So in light of the time frame in this budget coming forward to you so soon, we wanted to set that aside, that could be something you allocated if it’s for capital after you go through that process,” Smith explained to councillors.

It’s anticipated the proposed 2023 capital plan will result in a 0.92 per cent increase in residential tax equating to about $41.29 for an average household assessed at $382,000.

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