Minto Council used yesterday's budget session to create a new $7.1-million capital plan.
The fund includes $2.5-million in loans, $1.6-million in grants , and $1.7-million from reserve and revenue.
With growth and stabilization, Minto's budget increase stands at 3.8 per cent.
The impact on the blended tax rate including county and education rates is 2.3%.
That means the average residential ratepayer with a home valued at $205,000 will pay about $65 more a year, with $39 going towards Minto's coffers.
Residents get a chance to comment on the spending plan at a public open house on Tuesday, April 7 at the town office.
Capital reserves are projected to stand at $8.5-million by year end, with borrowing standing at $7.7-million.
Major projects include Harriston's Elora St. reconstruction and streetscape at $1.7-million, three blocks of Ann St. in Clifford at $430,000, James St. in Palmerston $816,000 and resurfacing 6th Line of Minto $480,000 over two years.
“We are being aggressive to address our infrastructure deficit as set out in our asset planning process," says Mayor George Bridge. "Interest rates are low and we have to take advantage of this and the grants available to us.”
Subject to public input, council will consider final budget approval Tuesday, April 21 at its regular meeting.
