City of Waterloo council summary December 11, 2023
** The council summary below provides a snapshot of the major items presented at Monday’s council meeting. The council meeting webcast is available on the City of Waterloo YouTube page. Please refer to the minutes for an official record of the meeting.
2024-2026 budget release summary
City staff presented the 2024-2026 staff tabled operating and capital budgets to council on December 11, 2023 and will be seeking council’s adoption of the 2024-2026 budget on February 12, 2024.
The budget is based on the theme of “Strong, Sustainable, Together”, and continues the progress made with recent budgets focusing on four main goals:
- Service delivery enhancements and additions as supported by the Strategic Plan.
- Support for existing programs and services.
- Operating funding to support new capital assets.
- Continued increased investment in infrastructure renewal.
Community engagement during the development of the strategic plan heavily influenced the creation of the staff tabled budget.
The budget includes tabled property tax increases of:
- 7.46% in 2024 — average increase of $110 per household
- 7.30% in 2025 — average increase of $116 per household
- 6.44% in 2026 — average increase of $110 per household
These rates include base budget and operating impacts of capital and growth increasing in the range of 3.55 - 3.86 per cent, which is less than the current rate of inflation. Rates also include service level increases (such as Fire Expansion and Enhance Sidewalk Winter Control) for Council’s consideration in the range of 1.89 - 2.64 per cent, and an increased infrastructure investment of 1 per cent annually.
The 2024-2026 tabled budget includes $1.6M in efficiencies and improvements, equivalent to 1.75% in property tax savings. A variety of continuous improvements have been made in 2023 or are underway. The tabled budget also includes a menu list with additions and $2.4M in reduction opportunities equal to a 2.5 per cent property tax reduction for Council consideration as part of final budget decision-making in February.
The city utility service (water, sewer and stormwater inclusive), building standards, cemeteries, rental housing and business licensing rates for 2024 were also tabled with Council and adopted.
Combined annual water, sanitary sewer and stormwater rates will increase 5.6 per cent.
Department business plan presentations are scheduled for January 15, 22 and 29. The business plans provide context to assist council with the upcoming budget decisions. For the community, the business plans provide an overview of the various services and service levels the city provides, connecting the strategic plan to the budget through the key projects planned for 2024-2026.
Building upon the extensive public engagement undertaken as part of the City’s 2023-2026 Strategic Plan, the key influencer of the staff tabled budget, an Engage Waterloo survey will be available from December 12, 2023 through January 12, 2024.
On January 9, 2024 a hybrid budget information session will be held from 6:30 to 8 p.m. at the Waterloo Memorial Recreation Complex (WMRC), Community Pavilion. Pre-registration by January 4, 2024 is required whether a resident plans to participate in-person or virtually. The City of Waterloo will reimburse the cost of public transportation fare and child care to support in-person attendance. Please indicate these and any other supports required to participate when registering. More details are available on Engage Waterloo at engagewr.ca/waterloo-budget-2024-2026.
Elements of the budget will also be featured as part of several upcoming council meetings:
January 15, 22, 29, 2024 - Department business plans presented to council; results of public engagement survey and budget information session also presented January 29.
February 5, 2024 - Capital budget is reviewed with council for project classification.
February 12, 2024 - Three-year operating and capital budgets are adopted, and a seven-year capital forecast for 2027 to 2033 adopted in principle.
Residents are encouraged to attend these council meetings to learn more about the staff tabled budget.
To review all the budget documents and for more information related to the staff tabled three-year budget visit waterloo.ca/budget.
Council approves major high rise mixed use development on site of former Kraus carpet factory
As part of the City’s commitment to advance housing, Council approved the application for mixed use development for the lands at 525 and 565 Conestogo Road West (locally known as the site of the former Kraus carpet factory). This development is a key intensification project in north-central Waterloo, a journey that began back in 2017 with Council’s approval of the Conestoga Station Area Plan, and includes a mix of housing, commercial, employment and community uses right between the two major ION stations at Conestoga Mall and Northfield Drive.
The four building development will include 12 high-rise towers ranging in height between 18 and 35 storeys with 3,353 residential units (5,452 bedrooms). The scale of this development creates a vertical neighbourhood with its own community, and will also include a minimum 8,000 square metres of non-residential building floor area, approximately 1.10 hectares of privately owned public space (POPS) including park space, a multi-use trail and a new municipal street. The planning for this development is an opportunity to ensure community vibrancy through strategic density, diverse housing options and equitably available parks, public spaces and other amenities.
Council approves application for new UW student residence
Council demonstrated their continued support of the City of Waterloo’s post-secondary institutions and student housing concerns by approving the application for a new University of Waterloo student residence at 155 University Avenue West. The twelve-storey student housing residence will house 510 students and have 125 bicycle parking spaces next to the existing vehicle parking lot, with approved future lot expansion to accommodate an additional 106 vehicle parking spaces for a total of 741.
City of Waterloo to sponsor 2024 Ontario Bike Summit
City of Waterloo council affirmed their commitment to active transportation by supporting the 2024 Ontario Bike Summit with a sponsorship donation of $25,000. The Ontario Bike Summit, to be held in Waterloo April 3-5 2024, is an opportunity for the City of Waterloo to showcase our innovative approach to cycling and active transportation design and initiatives as one of Canada's Gold Bicycle Friendly communities.
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Media contact:
Cari Van Niekerk
Director, Corporate Communications
cari.vanniekerk@waterloo.ca