500 Block Victoria Street Streetscape Project (Supplemental 24.5)

The Downtown Streetscape Improvement Budget is funded by Gaming Revenue and was first introduced into the Five-Year Financial Plan in 2008. This budget has contributed to significant streetscape improvements throughout Downtown including the most recent Victoria Street West Improvement Project (2020). Since then, reprioritization of projects and funding has delayed streetscape projects. The next project in the plan is to update and modernize the 500 block of Victoria Street, converting additional travel lanes into wider pedestrian friendly zones, adding attractive street furniture, and landscaping. Due to the rising costs of construction materials, this project requires additional funding to move forward.

COST: $3,100,000 in 2026

Much of the funding for this proposal ($2,325,000) has already been planned for within the Gaming Reserve. The remaining $775,000 would be funded through short term debt and would not impact taxation in 2024. As this program provides an annual $500,000 contribution from the gaming reserve, the 2027 and 2028 contributions will be used to repay the borrow.