Item - 2025.EX23.7

The Executive Committee recommends that:

1. City Council adopt the 2025 Corporate Asset Management Plan as set out in Attachment 1 to the report (April 29, 2025) from the Chief Financial Officer and Treasurer and City Council provide approval for submission to the Province of Ontario by the July 1, 2025 regulatory deadline.

2. City Council direct the Chief Financial Officer and Treasurer to make available the final approved 2025 Corporate Asset Management Plan as amended to the public via the City website and to distribute printed copies as requested.

3. City Council direct the Director, Waterfront Secretariat, the Executive Director, Corporate Real Estate Management and the General Manager, Parks and Recreation, in consultation with CreateTO, Waterfront Toronto and the Toronto and Region Conservation Authority, to report to the June 17, 2025 meeting of Executive Committee with an action plan for the execution of critical repairs to the Western Beaches dock walls and breakwaters, including an assessment of:

a. priority sites;

b. ownership information;

c. short-term and long-term options; and
 

d. intergovernmental funding required for cost-sharing of repairs.

This report presents the City of Toronto’s 2025 Corporate Asset Management Plan for City Council's approval, in accordance with Ontario Regulation 588/17: Asset Management Planning for Municipal Infrastructure (the "Regulation") under the Infrastructure for Jobs and Prosperity Act. The regulation was 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 all municipal infrastructure assets reported through the Core Infrastructure Asset Management Plan approved by Council in November 2021, and the 2024 Corporate Asset Management Plan approved by Council in May 2024. The infrastructure assets contained in this report are categorized into 11 asset classes: amenities, collections, equipment, equipment & appurtenances, facilities, fleet, linear infrastructure, natural assets, point infrastructure, structures and systems.

The 2025 Corporate Asset Management Plan (AMP) encompasses 26 City Divisions, Agencies, and Corporations (DACs) that hold ownership and/or responsibility over City-owned municipal infrastructure assets, as defined by the regulation. Organized into 9 service areas and 26 subservices, the Corporate AMP exhibits the multitude of services provided by the City and demonstrates the relationship between service delivery and the assets that support those services. The AMP is based on the data, information, professional judgement, and expertise of the asset management teams and leads that reside within each area, in conjunction with the work and analysis conducted through the City’s annual Budget process and reflected in the 2025 Operating Budget and 2025-2034 Capital Budget and Plan.

The City’s asset portfolio, within the scope of this AMP, has a current replacement value of $215 billion. In addition to the assets included in the 2024 Corporate AMP, the portfolio is inclusive of the 6 core infrastructure assets of water, wastewater, stormwater, roads, bridges and culverts included in the 2021 Core Infrastructure AMP. The overall performance distribution of the City’s in-scope assets is rated as ‘Fair’, indicating that, on average, City assets are fit for service and continue to perform at an acceptable standard. These assets are approaching the end of its service life and, as such, are likely performing at a higher operating cost where ongoing monitoring and maintenance may be required to sustain service levels.

To proactively respond to aging infrastructure and growing renewal needs, the City has prioritized actions that result in the ‘flattening of the SOGR curve’ through increased renewal investments and prioritization as reflected in the City’s multi-year strategy to improve services and the day-to-day experiences of Toronto residents. These efforts reflect both an increase in SOGR investments as well as a resulting reduction to the previous $26 billion 10-year SOGR infrastructure gap, reflected in the 2024 Corporate AMP, to an estimated $18 billion renewal shortfall identified through the 2025 Corporate AMP where transit and housing renewals continue to be the main drivers. The City acknowledges that there is still further work to be done to improve the state of its infrastructure and ensure ongoing sustainability of services to the public. The overall reduction to the City’s estimated 10-year SOGR infrastructure gap is represented below in Chart 1.

Chart 1 – Change in Estimated 10-Year SOGR Infrastructure Gap

($ billions)

The Executive Committee recommends that:

1. City Council adopt the 2025 Corporate Asset Management Plan as set out in Attachment 1 to the report (April 29, 2025) from the Chief Financial Officer and Treasurer and City Council provide approval for submission to the Province of Ontario by the July 1, 2025 regulatory deadline.

2. City Council direct the Chief Financial Officer and Treasurer to make available the final approved 2025 Corporate Asset Management Plan as amended to the public via the City website and to distribute printed copies as requested.

3. City Council direct the Director, Waterfront Secretariat, the Executive Director, Corporate Real Estate Management and the General Manager, Parks and Recreation, in consultation with CreateTO, Waterfront Toronto and the Toronto and Region Conservation Authority, to report to the June 17, 2025 meeting of Executive Committee with an action plan for the execution of critical repairs to the Western Beaches dock walls and breakwaters, including an assessment of:

a. priority sites;

b. ownership information;

c. short-term and long-term options; and
 

d. intergovernmental funding required for cost-sharing of repairs.

This report presents the City of Toronto’s 2025 Corporate Asset Management Plan for City Council's approval, in accordance with Ontario Regulation 588/17: Asset Management Planning for Municipal Infrastructure (the "Regulation") under the Infrastructure for Jobs and Prosperity Act. The regulation was 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 all municipal infrastructure assets reported through the Core Infrastructure Asset Management Plan approved by Council in November 2021, and the 2024 Corporate Asset Management Plan approved by Council in May 2024. The infrastructure assets contained in this report are categorized into 11 asset classes: amenities, collections, equipment, equipment & appurtenances, facilities, fleet, linear infrastructure, natural assets, point infrastructure, structures and systems.

The 2025 Corporate Asset Management Plan (AMP) encompasses 26 City Divisions, Agencies, and Corporations (DACs) that hold ownership and/or responsibility over City-owned municipal infrastructure assets, as defined by the regulation. Organized into 9 service areas and 26 subservices, the Corporate AMP exhibits the multitude of services provided by the City and demonstrates the relationship between service delivery and the assets that support those services. The AMP is based on the data, information, professional judgement, and expertise of the asset management teams and leads that reside within each area, in conjunction with the work and analysis conducted through the City’s annual Budget process and reflected in the 2025 Operating Budget and 2025-2034 Capital Budget and Plan.

The City’s asset portfolio, within the scope of this AMP, has a current replacement value of $215 billion. In addition to the assets included in the 2024 Corporate AMP, the portfolio is inclusive of the 6 core infrastructure assets of water, wastewater, stormwater, roads, bridges and culverts included in the 2021 Core Infrastructure AMP. The overall performance distribution of the City’s in-scope assets is rated as ‘Fair’, indicating that, on average, City assets are fit for service and continue to perform at an acceptable standard. These assets are approaching the end of its service life and, as such, are likely performing at a higher operating cost where ongoing monitoring and maintenance may be required to sustain service levels.

To proactively respond to aging infrastructure and growing renewal needs, the City has prioritized actions that result in the ‘flattening of the SOGR curve’ through increased renewal investments and prioritization as reflected in the City’s multi-year strategy to improve services and the day-to-day experiences of Toronto residents. These efforts reflect both an increase in SOGR investments as well as a resulting reduction to the previous $26 billion 10-year SOGR infrastructure gap, reflected in the 2024 Corporate AMP, to an estimated $18 billion renewal shortfall identified through the 2025 Corporate AMP where transit and housing renewals continue to be the main drivers. The City acknowledges that there is still further work to be done to improve the state of its infrastructure and ensure ongoing sustainability of services to the public. The overall reduction to the City’s estimated 10-year SOGR infrastructure gap is represented below in Chart 1.

Chart 1 – Change in Estimated 10-Year SOGR Infrastructure Gap

($ billions)