There are no big building projects planned for next year, so Quinte West Council has passed modest capital budgets for 2010. The City is planning 6.6 million dollars in capital, including 2.5 million in roadwork, and 8.4 million dollars is being set aside for water sewer projects. Residents be warned!! Quinte West will need 90 million dollars in water sewer upgrades and expansions over the next 10 years, so users will see their monthly rates going up steadily..year after year.
Meanwhile, Quinte West is using some reserve funds to keep capital spending from effecting tax rates this year. At the end of next year, it’s estimated there will be 17 million dollars in reserves. Just a few years ago, there was over 26 million in reserve funds. City staff will present a report on options on how to start re building reserves next year.
