Asset Management Infographic Downloadable Copy
Have your say on the City's Draft 2022 Asset Management Plan!
We want to hear from you! The City of Niagara Falls is committed to making ongoing improvements and updates to our asset management plans and programming and as such we’re collecting feedback on the Draft 2022 Asset Management Plan. Please contact us with any questions, comments or feedback about the Plan before May 6th, 2022 at [email protected].
What is Asset Management?
Infrastructure asset management is the combination of management, financial, economic, engineering, and other practices applied to physical assets with the objective of providing the best value level of service for the costs involved. It includes the management of the entire life cycle—including design, construction, commissioning, operating, maintaining, repairing, modifying, replacing and decommissioning/disposal—of physical and infrastructure assets
The City of Niagara Falls provides a range of services to residents, businesses and visitors that require physical assets including transportation, stormwater management, water, wastewater, parks and recreation, fire protection, and municipal administration services such as by-law enforcement and development planning. To deliver these services, the City relies on a wide range of infrastructure assets that are best managed through the development of asset management plans and practices. Good asset management provides us with tools and processes necessary for decision making that takes into consideration:
- Servicing needs of the community
- Risk Mitigation
- Optimal resource allocation
Ontario Regulation 588/17
The City is in the process of implementing the requirements of Ontario Regulation 588/17 which includes a Strategic Asset Management Policy and the development of asset management plans for all City-owned assets.
Currently the City has achieved the necessary deadlines with the creation and Council adoption of a SAMP (Strategic Asset Management Policy). The final Asset Management Plan for Core Assets will be brought forward for Council endorsement by the regulated reporting deadline of July 1, 2022.
Strategic Asset Management Plan
The Draft 2022 Strategic Asset Management Plan outlines the requirements, overall intentions/principles and the framework that the City will follow when creating Asset Management Plans. The policy will guide the asset management process going forward and help embed asset management principles into ongoing capital, operations and maintenance activities.
Asset Management Plans (AMPs) consolidate the data and information we need to make effective decisions about our infrastructure assets. The City published its first asset management plans in 2013 and 2014. The most recent iteration of the Asset Management Plan is the 2022 Draft Asset Management Plan which includes information related to the City's core assets as dictated by O.Reg 588/17. Core assets are defined as assets related to bridges & culverts, roads, water, wastewater, and stormwater.
Why invest in Asset Management?
Watch this video to learn how asset management approaches can help municipalities address specific infrastructure needs while also preparing for climate change.
Policies and Reports
2013 Asset Management Plan
2014 Asset Management Plan
2019 Asset Management Policy
Presentation - Introduction to Asset Management
DRAFT - 2022 Asset Management Plan
2022 Report to Council - MW-2022-16