In an effort to improve their asset management capabilities, the City of Terrace is set to apply for grant funding from UBCM.
In total, the grant would supply 15 thousand dollars, which would need to be matched by the city for a total project cost of 30 thousand dollars.
Split in to 3 sections, the Asset Management Revenue Plan would expand on an asset management plan originally undertaken last year.
That plan was also made possible thanks to grant funding from the Union of BC Municipalities.
Phase one of the project, budgeted at 5 thousand dollars, would help to define risk factors, service level requirements, and customers’ willingness to pay.
The largest portion of the funding, 24 thousand dollars, will go towards the development of a 30 year asset management revenue plan.
Finally, the third phase, budgeted at 1 thousand, would see the development of a metric to measure progress towards city targets.
