Item - 2021.EX27.3

The Executive Committee recommends that:

1.  City Council adopt the Core Infrastructure Asset Management Plans as set out in Attachment 1 to the report (September 23, 2021) from the City Manager and the Chief Financial Officer and Treasurer and City Council authorize the General Manager, Toronto Water and the General Manager, Transportation Services to make any required non-material amendments to the plans prior to the July 1, 2022 regulatory deadline.

2.  City Council direct the City Manager to make available the final approved Core Infrastructure Asset Management Plans as amended to the public via the City website and to distribute printed copies as requested.

This report presents the City of Toronto’s Core Infrastructure Asset Management Plan for City Council's approval, in accordance with Ontario Regulation 588/17: Asset Management Planning for Municipal Infrastructure (the "Regulation"). The regulations were subsequently amended in March of 2021 under Ontario Regulation 193/21 to change the timing of reporting requirements under the Act. The report will address the infrastructure elements as outlined in the regulation and include water, wastewater, stormwater, roads, bridges and culvert asset groups.

The Core Infrastructure Asset Management Plan is aligned with Corporate Asset Management Policy approved by Council in 2019 and incorporates key principles and strategic directions that enhance asset management practices and ensure that asset management activities are continuously improved and integrated across the organization. The asset management plans in this report are based on the work used to develop the annual Capital Budget and Plan for the core infrastructure asset groups managed by Toronto Water and Transportation Services Divisions.

Asset management integrates planning, finance, engineering and operations to realize value from assets, reduce risks and provide expected levels of service to the community in a socially, environmentally and economically sustainable manner. Effective asset management requires an overarching framework to establish and guide its practice so that asset management becomes central to strategic, financial and operational decision-making at all levels of the organization.

The Core Infrastructure Asset Management Plans in Appendix 1 and 2 of the attached report, provides the foundation that will support an integrated approach at the City as it develops and matures its asset management practice and ensure the sustainability of assets and related services; optimize infrastructure investment decisions; and support reliable service delivery. The Asset Management Plans provide an inventory by asset category, asset conditions, service levels and asset life cycle activities and costs required to maintain current service levels. The Plan also identifies the impacts of growth including costs to accommodate demand and the operating costs required to maintain current service levels in accordance with the first-phase requirements of Ontario Regulation 588/17.

Staff are recommending that, given the scale of assets being presented in the attached plans, the General Managers of Toronto Water and the Transportation Services Divisions be provided the authority to make non-material amendments to the plans as required, such as minor changes to asset inventory or condition, prior to the July 1, 2022 regulatory deadline for Core Infrastructure Asset Plans.