#capital-plan

#capital-plan

The City of Toronto's 2026 budget offers relief many homeowners were looking for in its property tax increase, but it also lays bare the massive amount of infrastructure work hanging over the city in the coming years which, in some cases, may be deferred. With budget season now in full swing at city hall, several city departments will sit in front of the budget committee this week to give presentations on their financial needs this year. Among them will be the parks and recreation department, which is caught up in a nearly $2 billion deferral of work in the 10-year capital plan, which is the city's plan to maintain, renew and grow infrastructure. That work was supposed to be funded by development charges that builders pay to the city, but recent provincial legislation made it so developers could pay those fees once their buildings are occupied, as opposed to when they get their building permits. The change means the city will receive that revenue years later than under the previous rules, so the work it would fund has to be put off, according to city budget documents.