The City of Yorkton has received some extra funds from the federal government.
The city received a one-time transfer of $996,548 thanks to a ‘top up’ from the Gas Tax Fund, which is intended to be used for infrastructure projects in cities in Canada.
“We’re lucky enough that they decided to double the total amount available this year, so we’ve received double the normal, one million amount we get,” said Ashley Stradeski, Director of Finance for the City of Yorkton.
Yorkton regularly receives approximately $965,000 from the fund, which has been used for such as the Highway #9 Intersection Improvements (2006 – 2007), Street Light Improvements (2007 – 2008 – 2009), Broadway and Bradbrooke Reconstruction (2010 – 2011) and Storm Water Management project (Drainage project).
While Councillor Ken Chyz noted that it was ‘humerous’ that the city received the extra funds with an election on the horizon, council was appreciative of the increased funding.
“We’re doing a lot of good infrastructure work and I think we have a lot more to do, and that’s exactly what this money is intended for,” sais Stradeski.
The money has been allocated towards approved projects which were not fully funded. In other words, the city will not have to borrow money in order to complete these projects, allowing them to pay less money overall as well as continue to new projects sooner.
“It prevents us from having to fund these projects over a longer term using external debt. It keeps our interest costs down, which is a benefit to all taxpayers,” said Stradeski.
One project specifically which will benefit from the funds is scheduled for next year, a reconstruction on Darlington Ave. and Mayhew St. at the intersection.
“Those are projects large enough that we would be borrowing for, so this lowers the amount we would have to borrow and shortens the payback period.”