Community Investment Fund: Need for investment
The gap between community projects that are funded and unfunded has continued to widen over the years. Since 2006, the unfunded deficit has grown from $718 million to $2.3 billion in 2010.
While new facilities like libraries and recreation facilities are needed to address city growth, just as important is the need for lifecycle upgrades to existing facilities. As with a house or car, ongoing maintenance is required to ensure community needs continue to be met. Long-term, sustainable funding is key to addressing the growing backlog and need for upgrades to better serve the community. The community investment fund is a significant first step to addressing this deficit.
This short three minute video provides a quick understanding to the need for investing in communities.