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Gatineau Mayor Marc Bureau is forecasting an $8.7-million surplus in 2007, thanks to population growth and fees charged to developers in the city’s booming housing market.
Mr. Bureau said yesterday the city will invest most of the surplus in major capital projects, including a $34-million sports centre in the Gatineau sector, public library improvements and the $18-million Espace Dallaire art museum in downtown Hull to honour the work of the late Outaouais artist Jean Dallaire.
The planned museum along the east shore of Brewery Creek has been a dream of some area politicians and community groups for years.
Gatineau’s budget surplus is not as large as the $11.2 million in 2006 or the $9.8 million in 2005, but Mr. Bureau said he is still pleased with the city’s financial outlook.
“There is a good surplus this year because there was more population growth than we expected and the real estate market is strong,” the mayor said. “We have high revenues from development fees and that is really good for Gatineau.”
Revenue from development fees has increased by 50 per cent in the last two years. City figures show development fee revenue jumped by 29 per cent during the first nine months of 2007.
Developers built 596 houses in 2005, 5,944 in 2006 and have built 4,700 homes so far this year.
“The city decided two years ago to use the surplus for big projects,” the mayor said. “We will put some money into improving the Parc des Cèdres near the Aylmer Marina and maybe we could have a new main library.”
The largest project, the $200-million Rapibus transitway from Buckingham to Aylmer, will be built with money from the federal government, the province and the city. Work is to start in late 2008 or early 2009 and is scheduled to be completed in 2010.
The city is planning $60 million worth of capital projects, but Mr. Bureau said he is concerned there will not be enough money to replace Gatineau’s crumbling infrastructure.
He said the city will have an infrastructure deficit of almost $40 million a year for the next 12 years because of the need to repair roads and sewers and upgrade its water filtration plant.
Gatineau will use the money it receives from gasoline taxes to expand its water filtration plant starting in 2009.
City council is to discuss Gatineau’s 2008 budget on Nov. 14 to 16.
© The Ottawa Citizen 2007