In 2014, Newmarket Council adopted an Asset Management Plan (AMP) as a responsible and accountable action for the long-term planning, maintenance and eventual replacement of its capital infrastructure needs. Asset management is one of the most important responsibilities of a municipality as its infrastructure provides essential services to the community. Over the next 10 years, Newmarket will require $84.6 million to fund the maintenance and replacement of its current assets (current dollar value excluding construction price increases).
The Town of Newmarket is responsible for a diverse array of capital assets. These include:
- Linear infrastructure such as roads, bridges, sidewalks, trails, water and wastewater and storm pipes;
- Buildings including recreation centres, fire halls, library, operations centre and the municipal offices;
- Land improvements such as sports fields, playgrounds, parks, parking lots and storm ponds;
- Vehicles and equipment including fire trucks, ploughs, ice resurfacing machines and mowers.