Some city councillors are worried about how much debt the city may take on over the next decade to maintain everything it owns, from water pipes to roads to the nozzles on fire hoses.
At a finance committee meeting Tuesday, councillors discussed two reports: one that takes stock of the condition of all the city's assets and a second that lays out a plan for how the city will pay to repair and renew a portion of them.
One of the reports shows a whopping $10.8-billion gap over 10 years between how much money the city needs to maintain things like roads and rec centres — and the funding it is currently able to spend.
"It's just such a large number to wrap your head around how we're going to finance this," Coun. Riley Brockington said.
According to the report, that gap is driven by factor