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Bradford planning for ‘unprecedented’ investment ahead of growth

Long-term financial plan to create objectives, assess trends and consider potential risk factors to the town’s financial sustainability, plus review development charges
2024-04-17councilcompmo002
The flag of Bradford West Gwillimbury blows in the wind in front of the town’s financial services building at 61 Holland St. E.

Bradford is preparing to take a long look at its future finances and expected expenses.

Based on a report from town finance director and treasurer Ian Goodfellow, committee of the whole recommended council approve funding the creation of a long-term financial plan forecasting to 2051, during the regular council meeting on Sept. 3.

Currently, the municipality has no such plan formally in place. One would include projecting revenues, expenses and other key factors likely to impact the town’s finances.

That’s particularly important as an “unprecedented infrastructure investment” will likely be needed to service the town’s 2051 growth targets, according to the report.

Mayor James Leduc called it a “great” step for the town to take.

“This financial long-term plan is something we need to certainly look at and be ready,” he said.

In addition to creating financial objectives, looking at long-term trends and considering potential risk factors to the town's financial sustainability, the plan is also intended to review the town’s plan for development charges, which help fund growth-related “hard services” such as roads, drinking water and sewers, as well as “soft services” such as parks and recreation facilities.

“This is great to put this in our plan so it’s there, so the developers know this is what’s coming,” the mayor said.

The town’s recreation and cultural services department has already submitted a list of projects to help support the town’s anticipated growth, with the top five including:

  1. The new town hall, estimated to cost between $87.7 million and $146 million and be built sometime between 2024 and 2027
  2. A second fire station and combined public works yard in Bond Head, estimated to cost between $15 million and $20 million and be built sometime between 2025 and 2027
  3. An additional recreation facility and library satellite location, estimated to cost between $100 million and $120 million and be built sometime between 2026 and 2030
  4. Phase 2 of Henderson Park expansion, estimated to cost between $10 million and $15 million and be built sometime between 2025 and 2026
  5. Redeveloping the Danube Seniors Leisure Centre, estimated to cost between $15 million and $20 million and take place sometime between 2028 and 2030

Ward 2 Coun. Jonathan Scott was “pretty thrilled” to see the list come forward and confirm those as “priority projects” which “are not afterthoughts.”

“All of these things add up to quite a price tag,” he said, noting the importance of having grant applications ready in time for upcoming provincial and federal elections.

Goodfellow confirmed the plan would consider all available means to fund future projects, including how to be ready for grant opportunities.

Ward 4 Coun. Joseph Giordano worried that many projects might be “nice to have” but a slow economy could hinder development activity and reduce the amount of development charge funding available.

“I don’t think it’s as rosy as we think it is right now, and I think it might get a little bit worse before it gets better,” he said.

While the report included some estimated timelines for projects, Goodfellow explained the actual timing would be determined during the annual budget process, which would give staff and council time to adjust to the economic situation.

In his report, Goodfellow explained the necessary funding for the plan is already available in the form of $55,000 from the 2024 capital budget, which was earmarked for a leisure services renewal/replacement plan, as well as $29,000 remaining in the development charges study budget.

Recommendations from committee of the whole are considered for approval at the next regular council meeting.


Michael Owen

About the Author: Michael Owen

Michael Owen has worked in news since 2009 and most recently joined Village Media in 2023 as a general assignment reporter for BradfordToday
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