City’s infrastructure and assets are in very good condition

Richmond Hill – Richmond Hill’s assets – roads, buildings, sewers and more – are in good condition and will stay that way with the right investment. The 2025 Asset Management Plan which was approved by Council on May 28, will inform how the City will continue to maintain its assets to provide municipal services in a safe, reliable and cost-effective manner.

The 2025 Asset Management Plan provides an assessment of the City’s infrastructure assets which are valued at $13 billion. It also guides the efficient and cost-effective maintenance of City infrastructure, such as roadways, sidewalks, bridges, recreational facilities, watermain pipes, stormwater management ponds, and sanitary and storm sewers, among others.

Currently, more than 85% of the City’s assets are in good or very good condition, putting Richmond Hill in a good position for the future. Richmond Hill’s goal is to maintain its assets by investing in them at the right time – making sure that they remain in service for as long as possible in the most cost-effective way – supported by the analysis in the 2025 Asset Management Plan.

While the outlook is currently positive due to the City’s proactive asset management planning, ongoing investment is needed. The City will continue to identify, quantify and address long-term financial pressures and risks associated with uncertainties that include climate change and economic factors.

The 2025 Asset Management Plan supports Richmond Hill’s 2024-2027 Strategic Plan: Make capital investments within the context of financial sustainability and based on best practices in asset management planning.

Learn more about City-owned assets and how the City plans to manage them in the future, by visiting RichmondHill.ca/AssetManagement.

QUOTE

“I am pleased that Richmond Hill’s robust Asset Management Plan puts us ahead of the game when it comes to planning for the future of our assets. With this comprehensive guiding document in place, it will ensure that our community can continue to enjoy parks, trails and roads that are in good condition, well-maintained and continue to provide great services to the community. The financial strategy in this year’s plan will help inform the Capital Budget, boding well for future assets and infrastructure that are essential to delivering services such as clean drinking water, safe greenspaces and well-equipped facilities which contribute to us being a vibrant city of neighbours.”

-        David West, Mayor

QUICK FACTS

• Richmond Hill’s assets have an estimated replacement value of approximately $13 billion (in 2025) and the majority of them continue to be in good and very good condition. 
• The City maintains a wide variety of assets that span across 11 service areas (including the roadway system, water distribution, parks and outdoor recreation, etc.).
• The City’s infrastructure assets, on average, are generally within the first half of their estimated service lives.
• The City’s asset information is updated annually, and subsequent Asset Management Plans will be delivered every five years as required by the Province.
• The 2025 Asset Management Plan introduces the City’s proposed levels of services, which guide the City in looking to the future.
• The 2025 Asset Management Plan also outlines a financial strategy, which provides direction on how the City can fund and achieve its plan.
• The 2025 Asset Management Plan is integral to the development of the 2026 Capital Budget and Forecast, which puts the plan into action.