Broadway Street in Yorkton requires a major upgrade, and the City of Yorkton is hoping the Building Canada Fund will be a source of funding.
The most recent cost estimates provided by Integrated Engineering is $52.5 million. The City’s share of the project will be $18.5 million. As of December 31, 2014, $2.59 has been set aside in a capital reserve account. The remaining $15.91 million will be financed through a 10 year long term loan, explained Trent Mandzuk, Director of Public Works with the City at the regular meeting of Yorkton Council Monday.
An application has been forwarded to Building Canada Fund. Supplementary information has been requested from the City, including a municipal council resolution supporting the project.
“This project will include replacement and renewal of all underground and surface infrastructures for the City’s downtown corridor. Improvements proposed for Broadway Street will revitalize the downtown district, enhance public safety and will provide new infrastructure necessary to facilitate future development and prepare the City for growth,” detailed a report circulated to Council.
Councillor James Wilson was quick to point out by making the application the City is not committing to move forward with the $52.5 million project, unless they receive Building Canada Fund support so that the cost is shared by all three levels of government.
The information collected over the last 16 months demonstrates the Broadway Street Improvement Project is a priority for the City of Yorkton. The downtown corridor encompasses some of the City’s oldest infrastructure, much of which is in the poorest condition in relation to other parts of the City. It is critical that this infrastructure be scheduled for replacement to maintain safety, avoid infrastructure failure, property damage and inconvenience to the citizens of Yorkton, explained Mandzuk.
