No further investments being made to West Ferris Arena

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There will be no further investments into the West Ferris Arena, according to the city’s chief financial officer.

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The news surprised Coun. Sara Inch who asked a series of questions during Margaret Karpenko’s presentation about the corporate asset management plan during Tuesday’s special committee meeting.

Inch said the city’s recreational facilities account for almost half of the $28.8 million deficit.

She then asked if West Ferris Arena is included as an asset.

Karpenko replied, “West Ferris is in there with a replacement value of $60 million which is our target for our replacement being the new community centre. The replacement value of West Ferris is the $60 million direction for the new community centre.”

Inch asked whether the city is planning on maintaining the West Ferris Arena at this point or if that is a decision for council at a later date.

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“At this point this plan has put it as being run to end of life. So that means making no further reinvestments into the facility and running it to end of life.”

Every municipality is required to prepare a strategic Asset Management Plan by July 1, 2024 which is to include all assets, according to a report from council.

“The plan is to be posted on the city website by this date. Due to staffing levels and competing priorities the deadline of July 1, 2024 was not achieved. Staff proactively communicated with the Ministry of Municipal Affairs who was satisfied with the progress and that the plan would be completed in the fall of 2024.”

The Asset Management Plan details what the city owns, what condition is it in, what needs to be done and when does it need to be done by.

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“It’s a snapshot in time that details the capitol costs to cover of all of our assets. If there was a catastrophic failure or something, those are the dollars we would need to fix those things and meet the service levels we have set out,” said Deputy Mayor Maggie Horsfield.

She said it would be very difficult to see a zero.

“With this exercise the province is really looking at the state of the infrastructure across the province.”

Karpenko told council the plan will be brought to the community for input; however, no date or process has been finalized.

Coun. Chris Mayne referred to the number as “terrifying”.

He then asked whether that number could come down.

Karpenko responded, “It would take a significant change. Always room for refinement as we learn more information. Costs would have to come dramatically down.”

She said the purpose of the plan is to invest money at the right place to the right asset.

“Make the strategic investments to get the longest life out of all of our assets. This plan doesn’t include new assets such as the pump track.”

It also doesn’t include the museum park and future landfill.

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