The Asset Management Strategy and Funding Plan is intended to support long term planning and investment allocation for the city for its core infrastructure (e.g., roads, water, sewer, facilities, etc.). This work is being completed for the purposes of the Council Strategic Plan as it has been substantially advanced and will move into an operational focus in 2027 and beyond. Condition and criticality assessment of transportation and utility assets has been completed.
An RFP will be developed and advertised in 2027 to procure software to serve as a database and analysis tool to support asset management at the City. The software will be used to help determine which assets need replacement based upon condition and criticality, and the optimal timing for those replacements. A full asset management strategy for water, sewer, drainage, roads, and bridges assets will be completed following software procurement. Other asset classes may also be added.
Development of a funding strategy for asset maintenance and replacement will begin following development of the full asset management strategy.