The master plan will be provided to Council in December of 2012 for review and consideration. City council reserves the right to adopt or require modifications during the review period.
The City has budgeted 2.67 million dollars for the project (2012-1014 budget cycle). Construction can proceed in 2013 and 2014 with these funds in place. Subsequent Capital funding (if needed) will be determined based on estimated project costs developed as part of the Master Plan.
The Buena Vista / Sir Wilfrid Laurier Park Master Plan is funded as part of a larger ‘River Valley Renewal’ project that addresses ongoing needs for upgrades and renewal of existing parks within the river valley. In keeping with the ‘Ribbon of Green Master Plan’ and the ‘Urban Parks Management Plan’, ongoing management and improvements of river valley parks are critical to ensure their ongoing viability.
Funding for this project is from the City’s general revenues with no additional tax impact on adjacent neighbourhoods or the city in general. Funding for improvements to streets and sidewalks would be through the Transportation Branch.
As Provincial and Federal grants become available, the City actively applies for this funding in an effort to offset Municipal funding needs.