By NICOLE MacINTYRE
The Hamilton Spectator
Hamilton is $48 million richer today.
Premier Dalton McGuinty announced this morning that the province is giving $1.1 billion in infrastructure funding to municipalities thanks to its budget surplus.
Hamilton can use its portion to fund any capital project it wishes. Mayor Fred Eisenberger said he’d like hard services, like roads, water and sewer, to be the first focus of the funds.
“I think it’s a one time opportunity to do some catchup.”
The city’s roads budget alone has a $40 to $50 million annual shortfall.
A provincial spokesperson said Hamilton doesn’t have a deadline to spend the funding, but all municipalities are being encouraged to move quickly.
City staff plan to report back to council this fall with a priority list for spending the funding.
Though the funding is greatly appreciate, Eisenberger said the city still needs to province to establish a permanent funding agreement.
In his speech yesterday, McGuinty cautioned municipalities they shouldn’t expect another surplus next year because of the softening economy.
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http://www.thespec.com/News/BreakingNews/article/424752
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