Montreal Is Making Huge Investments In Housing & Green Space, Here's What To Expect
Ecological transitions, public transportation, and housing are top priorities.
- Mayor Plante has announced the city budget for fiscal year 2020 as well as a capital expenditures plan.
- New investments in affordable housing, green space, and public transportation will likely have a tangible effect on the lives of Montrealers.
The City of Montreal presented its operating budget for 2020 at a press conference on Monday, in the amount of $6.17 billion. Mayor Valérie Plante and Benoit Dorais, chair of the executive committee responsible for finance, also presented a three-year capital works program in the amount of $6 billion. Since last year, the city's budget increased by 8.1%.“Today, we are presenting a budget for all Montrealers," said Mayor Plante.
"One that provides for the creation of lively living environments and for the measures necessary to enable Montrealers to enjoy them. Because our population wants a city on a human scale, an ambitious city. Montrealers wish for their city to gather the resources necessary to overcome today's challenges and the hurdles of tomorrow."
Montreal's four chief priorities are housing, economic development, ecological transition, and mobility.
Mayor Plante outlined an ambitious plan, which includes additional funding to ensure the city is zero-waste by 2030.
“For two years now, we have been building the future of Montreal," said the mayor. "This budget propels us, enabling us to continue to transform our city. Through this budget, we can offer Montrealers a city where every person can find their place, a city they can all relate to."
Here's what Montrealers can expect from their city in 2020.
Local business owners will enjoy a 12.5% tax reduction that will be applied to the first increment of $625,000 of property value in 2020. There will also be a slight increase in property taxes.
Translation: My administration is proud to present a #budget2020 that's humane and ambitious. A budget for Montrealers, in which we propose measures that will better take advantage of the living environments that make our city great.
Residential taxes are increasing by 2.1% overall. Non-residential property taxes are increasing by 1.5%. Verdun, N.D.G, and the Plateau will see the largest property tax increases at 3.2 and 3.1 percent, respectively.
Montreal will continue to invest in mobility initiatives with a $2,117.1 million investment. The city will contribute $69 million for new buses.
Translation: The 2020 Budget and the 2020-2029 Capital Program of the @stminfo is our declaration of love for public transit, with a growing budget and a significant improvement in service bit.ly/2rhQr6J
The city is also granting funds to BIXI Montreal to help integrate over 2,000 new electric bikes to the network. Montreal's Mobility Squad, meanwhile, will receive $1.4 million to help streamline traffic flow.
Montreal will provide an additional $2.8 million to ensure the city is zero-waste by 2030. In addition, the city unveiled a new waste management plan, with $487.2 million earmarked for the collection and treatment of recyclables and food waste.
More than $624.7 million will be allocated for the purchase and preservation of green space. Of that amount, $154 million will be invested in local parks, sports facilities, and arenas.
An additional $13.1 million will be invested for the development of the Grand Parc de l'Ouest.
More than $202 million will be invested in housing across the city, including $140 million invested in improving the city's stock of affordable housing. The city will also aim to meet its goals of building 12,000 affordable family dwelling units by the end of 2020, with 50% of the goal already achieved.
Translation: #Budget2020 - After reaching half our goal of 12,000 social and affordable housing units, we continue to invest heavily in housing to maintain Montreal's diversity by increasing the budget allocated to housing construction by $63M in 2020.
It's unclear how the increase in residential property taxes will affect rents across the city, however.
And so much more!
The city will also invest $58.5 million over 3 years to add pedestrian lights with digital timers at every intersection equipped with traffic lights and an additional $1 million to enhance safety in school zones.
To improve the daily lives of Montrealers, the city will hire an additional 30 service workers for its 311 helpline. $56 million will be invested to renovate the Maisonneuve and L'Octogone libraries. Finally, an additional $1.1 million is allocated to snow removal operations.
For more details about Mayor Plante's ambitious goals for Montreal in 2020, visit the city's official website.
Stay tuned for more from Montreal's 2020 budget!