CITY OF MONTREAL - OFFICE OF THE MAYOR/EXECUTIVE COMMITTEE

CITY OF MONTREAL - OFFICE OF THE MAYOR/EXECUTIVE COMMITTEE

November 29, 2006 10:00 ET

Ville de Montreal 2007 Budget: The Tremblay-Zampino Administration Creates a New Investment Fund for the Development of Major Projects

MONTREAL, QUEBEC--(CCNMatthews - Nov. 29, 2006) - The Tremblay-Zampino administration today announced the creation of a new investment fund dedicated to the development of major projects at the tabling of the Ville de Montreal Three-Year Capital Works Program for 2007-2009.

"This fund, which will be in addition to the Three-Year Capital Works Program, will be dedicated to major municipal infrastructures projects that can generate revenues beyond regular market evolution. This new investment approach will help us to increase real estate wealth throughout the territory, while achieving the city's economic development goals, in line with the action plan Imagining - Building Montreal 2025 and the Success@Montreal economic development strategy," said the chairman of the executive committee responsible for finance, Frank Zampino.

The new investment fund for the development of major projects calls for investments of $180 million over the next three years, or $60 million per year for 2007, 2008 and 2009.

Major projects to be financed through this new fund include the Quartier des spectacles, the northern tip of L'Ile-des-Soeurs and the Contrecoeur development project.

Overall investments of $2.180 billion over three years

The Three-Year Capital Works Program for 2007-2009, which lists the investment projects that the urban agglomeration council, city council and borough councils plan to achieve over the next three years to maintain infrastructures in good condition, build new facilities and promote territorial development, calls for overall investments of $2.180 billion, $703.4 million of which will be invested in 2007.

Approximately 73% of these investments will go towards the protection of city assets, and especially to rehabilitate the water distribution network and road system.

Urban agglomeration council Three-Year Capital Works Program

The Three-Year Capital Works Program for 2007-2009 calls for investments of $1.200 billion over three years, $357.7 million of which will be spent in 2007 for various projects under the responsibility of the urban agglomeration, including:

- $312 million to repair main road arteries.

- $30.3 million to repair road structures.

- $19.4 million to enhance boulevard Saint-Laurent.

- $7.5 million to improve access infrastructures leading to the Montreal-Trudeau airport.

- $5.1 million for the Cavendish project.

- $105 million to upgrade and secure electrical supply at the drinking water production facility.

- $3.8 million to repair water mains of the Sainte-Anne-de-Bellevue regional network.

- $40.8 million to replace vehicles at the Service de securite incendie.

- $10.9 million to redevelop the parc du Mont-Royal.

- $5 million to develop bicycle paths downtown.

- $13.7 million to develop social and community housing.

City Council Three-Year Capital Works Program

The Three-Year Capital Works Program for 2007-2009 calls for investments of $620 million over three years, $216.7 million of which will be spent in 2007 for central department projects under the responsibility of the city council, including:

- $225.9 million to repair water and sewer pipes.

- $18.9 million to repair local roads.

- $147 million to build and modify underground pipes.

- $8.4 million for the library system.

The Three-Year Capital Works Program also calls for investments of $360.2 million over three years in the boroughs, $129 million of which will be spent in 2007, including:

- $124.9 million to repair local roads in the boroughs.

- $3.3 million to build a community centre in the Pierrefonds-Roxboro borough.

- $11 million to build an indoor pool and a community centre in the Ville-Marie borough.

- $3 million to build a maison de la culture in the Riviere-des-Prairies-Pointe-aux-Trembles borough.

- $3.4 million to develop parc Philippe-Laheurte in the Saint-Laurent borough.

- $1 million to develop parc Willibrod in the Verdun borough.

- $0.9 million to build a new library in the Saint-Laurent borough.

"The Three-Year Capital Works Program will help us to continue to improve the quality of local services. Our administration protects existing assets by investing massively to improve infrastructures," said Frank Zampino.

Contact Information

  • Source:
    Cabinet du maire et du comite executif
    or
    Information:
    Richard Caron
    514-872-9859 or 514-702-3538