Asset Management - Municipal Infrastructure Regulation
March 17, 2021
The province has announced that they are amending O. Reg. 588/17, the Asset Management Planning for Municipal Infrastructure regulation. More specifically, they are extending each of the key dates of the phase-in schedule by one year. By July 1st of this year, municipalities were to have had an approved asset management plan for core assets such as roads, bridges, and culverts which identifies current levels of service and the cost of maintaining them. This has now been pushed to July 1, 2022. The same would have applied for remaining municipal assets on July 1, 2023. This has now been extended to July 1, 2024.
Furthermore, the date in which municipalities would have needed to complete the proposed level of service portion has been extended from July 1, 2024 to July 1, 2025. To meet that deadline, any updates to current levels of service must now be made by July 1, 2024 rather than July 1, 2023.