City of Waterloo council summary November 20, 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.

Council receives update on city infrastructure in advance of 2024-2026 budget process

Council received the 2023 Asset Management Update, providing status updates on the almost $4 billion of city-owned infrastructure, including roads, the pipes under the roads, parks, trails, bridges, buildings and vehicles. The City of Waterloo provides a large number of services and maintains critical infrastructure with limited financial resources. The ongoing monitoring and continuous improvement of asset management helps council and staff prioritize the maintenance, rehabilitation or replacement needed to maintain that infrastructure. The annual report cards offer a snapshot of the current status of the City’s infrastructure assets, including funding needs and funding gap. This information helps the City’s decision-making on funding the right type of repair or replacement at the right time.

The updated information provides important consideration for council ahead of the 2024-2026 budget process. As part of the last two budget processes, council approved almost $2.8 million annually in additional funding for infrastructure assets like parks, facilities, roads, equipment and more. The 2023 Asset Management Report Cards are available on the City’s website.

Council approves application for residential development with 168 units

As part of the City’s commitment to advance housing, Council approved the application for a residential development in the Northdale neighbourhood, encompassing 83 and 85 Hickory Street West, and 265 and 267 Hemlock Street West. The six-storey building will include 168 dwelling units (186 bedrooms in a mix of studio, one bedroom, one bedroom plus den, and two bedroom units). The development will also include 57 underground parking spaces and 70 bike parking spaces. This approval aligns with the City’s Complete Community strategic priority, advancing community vibrancy through strategic density and the City’s provincial Housing Pledge commitment to plan for 16,000 new residential units by 2031.

-30-

Media contact:
Cari Van Niekerk
Director, Corporate Communications
cari.vanniekerk@waterloo.ca