The City of Nanaimo will create a “comprehensive risk framework” to manage its assets, thanks to new federal gas tax money.
The city announced it has received $39,500 from the federal Gas Tax Fund, administered by the Union of B.C. Municipalities.
The money will help the city develop priorities for investment and replacement of its assets using a risk-based framework, a press release says.
“I was pleased to learn that Nanaimo’s application was successful,” said Nanaimo Mayor Bill McKay. “Funding that gives staff access to better tools and information will allow for the efficient management of the city’s assets and the delivery of cost-effective services.”
The gas tax fund provides $2 billion annually. Money is provided twice a year to provinces and territories, which goes to municipalities for local infrastructure priorities, like public transit, energy systems and tourism, according to the Infrastructure Canada website.