City’s Asset Management Plan guides maintenance and repair for years to come

Richmond Hill – Richmond Hill Council has approved the 2024 Asset Management Plan, which is an important guiding document for the management and maintenance of the City’s existing assets over time.

The Asset Management Plan includes an assessment of the City’s infrastructure assets which are valued at $11.4 billion. It also provides the framework for 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.

Using the wide range of asset information City staff have collected, the Plan helps guide when and where investment is needed to repair or replace City assets. This helps to ensure Richmond Hill can deliver crucial services to the community.

The majority of City assets are in “Good” to “Very Good” condition, as they were in 2023. The Asset Management Plan also highlights how ongoing investment is required to maintain City assets and ensure their longest service life span possible.

The 2024 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.

Residents can learn more about the condition of City-owned assets and how the City plans to manage them in the future, by visiting RichmondHill.ca/AssetManagement.

QUOTE

“The Asset Management Plan is filled with crucial data that helps Council and City staff determine where investments are needed the most. Making evidence-based decisions through the City's robust asset management work ensures that the community can enjoy parks, trails and roads that are in good shape, drink clean, safe water from their taps and exercise and socialize in well-equipped community centres close to their homes. The Asset Management Plan helps us ensure Richmond Hill continues to be a vibrant and inclusive city of neighbours.” 

–       David West, Mayor

QUICK FACTS

• Richmond Hill maintains more than 430,000 infrastructure assets (including roads, watermain, sewer pipes, etc.).
• Most of the City’s infrastructure assets are young, with an average age of between 15 to 30 years old.
• The City’s assets have an estimated replacement value of $11.4 billion (in 2024) and continue to be in good to very good condition.  
• The City’s asset information and subsequent Asset Management Plans and reports are updated regularly as required by the province.