Modern and reliable infrastructure drives our economy. It contributes to our province's wealth and productivity, and it helps us attract investment and create jobs.
Municipal infrastructure is critical to delivering services to Ontarians. That's why we have launched a municipal infrastructure strategy. A cornerstone of the strategy is a new requirement for long-term asset management planning by municipalities. Municipalities seeking provincial capital funding will now be required to submit a detailed asset management plan.
The ministry is also providing a Guide for Municipal Asset Management Plans and an online asset management toolkit. Both the guide and the toolkit are intended to help municipalities understand what asset management planning is and how important it is.
While the strategy will be a long-term, cooperative effort, it begins with the new Municipal Infrastructure Investment Initiative (MIII). The province has dedicated $98 million for MIII over the next three years.
This includes MIII asset management funding to help smaller municipalities with the preparation of their asset management plans.
MIII also includes capital funding for necessary road, bridge, water and wastewater projects identified as top priorities through asset management plans.