Phase Three of the City’s Asset Management Plan is the most comprehensive to date, covering all core infrastructure and aligning with provincial regulation. It outlines a long-term strategy to improve service reliability, manage risk, and close the City’s $30.6 million annual infrastructure funding gap. The Plan introduces a phased investment approach, prioritizes renewal over expansion, and integrates climate resilience and net-zero goals into infrastructure planning.
Understanding Asset Management
Asset Management is a process to guide spending decisions. It is all about making the right investment on the right asset at the right time at the lowest possible cost.
To do this right, we must:
Know what we have
Measure how well what we have is performing
Take care of what we have it so it lasts
Prioritize and plan for both what we have now and what we will have in the future
The City of Thunder Bay provides a wide range of services that are vital to our quality of life, such as clean drinking water, transportation systems, drainage, parks and recreation and emergency services. These services depend on physical infrastructure assets such as water treatment plants, roads, storm sewers, buildings, vehicles and natural assets such as wetlands and trees. The cost to replace these assets is estimated to be $4.9 billion.
As the City’s Asset Management process continues to be refined, we are able to make better informed decisions, to make best use of limited tax dollars to maintain essential services, strengthen our economy, lifestyle and well-being.
In the development of a financing strategy, the goal is to ensure a high quality of life for both current and future generations, aligning with Thunder Bay's vision of becoming a vibrant and dynamic community that grows together.
We thank all those who shared their thoughts through the series of short surveys. The feedback you provided significantly shaped the plan, priorities, and strategies for future service levels.
We invite you to view the Future-Ready Roadmap series of videos about Thunder Bay's Asset Management Plan:
1. What Is An Asset?
2. What Is Asset Management?
3. Why Community Involvement in Asset Management Matters
Learn more...
- Visit this page for updates on the development of the new Asset Management Plan. Public input will be welcomed at various stages. - View Thunder Bay's Strategic Asset Management Policy No. 11-02-08 - For information on Thunder Bay's current Asset Management Plan, visit our Asset Management Plan webpage.
Phase Three of the City’s Asset Management Plan is the most comprehensive to date, covering all core infrastructure and aligning with provincial regulation. It outlines a long-term strategy to improve service reliability, manage risk, and close the City’s $30.6 million annual infrastructure funding gap. The Plan introduces a phased investment approach, prioritizes renewal over expansion, and integrates climate resilience and net-zero goals into infrastructure planning.
Understanding Asset Management
Asset Management is a process to guide spending decisions. It is all about making the right investment on the right asset at the right time at the lowest possible cost.
To do this right, we must:
Know what we have
Measure how well what we have is performing
Take care of what we have it so it lasts
Prioritize and plan for both what we have now and what we will have in the future
The City of Thunder Bay provides a wide range of services that are vital to our quality of life, such as clean drinking water, transportation systems, drainage, parks and recreation and emergency services. These services depend on physical infrastructure assets such as water treatment plants, roads, storm sewers, buildings, vehicles and natural assets such as wetlands and trees. The cost to replace these assets is estimated to be $4.9 billion.
As the City’s Asset Management process continues to be refined, we are able to make better informed decisions, to make best use of limited tax dollars to maintain essential services, strengthen our economy, lifestyle and well-being.
In the development of a financing strategy, the goal is to ensure a high quality of life for both current and future generations, aligning with Thunder Bay's vision of becoming a vibrant and dynamic community that grows together.
We thank all those who shared their thoughts through the series of short surveys. The feedback you provided significantly shaped the plan, priorities, and strategies for future service levels.
We invite you to view the Future-Ready Roadmap series of videos about Thunder Bay's Asset Management Plan:
1. What Is An Asset?
2. What Is Asset Management?
3. Why Community Involvement in Asset Management Matters
Learn more...
- Visit this page for updates on the development of the new Asset Management Plan. Public input will be welcomed at various stages. - View Thunder Bay's Strategic Asset Management Policy No. 11-02-08 - For information on Thunder Bay's current Asset Management Plan, visit our Asset Management Plan webpage.
this is an upcoming stage for Asset Management Plan
Contributions to this consultation are closed for evaluation and review. The project team will report back on key outcomes.
Final report
this is an upcoming stage for Asset Management Plan
The final outcomes of the consultation are documented here. This may include a summary of all contributions collected as well as recommendations for future action.
Asset Management Plan: Phase One (60.7 MB) (pdf)
