Approve the 2018 capital budget for the City of Burlington, with a gross amount of $68,594,193 and a debenture requirement of $11,412,656, and the 2019-2027 capital forecast with a gross amount of $618,919,356 and a debenture requirement of $60,738,172 as outlined in report F-37-17 and as amended by the Committee of the Whole - Budget; and
Administer the debenture in the amount of $9,492,656 in 2018 as tax supported debt; and
Administer the debenture in the amount of $1,920,000 in 2018 as special circumstances debt; and
Authorize staff to proceed with the 2018 capital projects representing not more than 50% of the 2018 capital from current funding in advance of the 2018 operating budget approval; and
Declare that, in accordance with sis. 5(1)5 of the Development Charges Act, 1997 and s. 5 of Ontario Regulation 82/98, it is Council’s clear intention that the excess capacity provided by the above-referenced works will be paid for by future development charges.