Valérie Plante’s party plans to generate revenues of around 255 million by 2025, including more than 100 million in the last year of the mandate, while its commitments would cost more than 235 million including borrowing costs. Investments in major projects will reach around 1.6 billion.
” It’s visionary, it’s pragmatic, it’s realistic, and it’s tied to the priorities of citizens. It is the mirror of their aspirations, ”says candidate Dominique Ollivier about the financial framework of Projet Montreal, which was unveiled on Friday. She will be the president of the executive committee if the Plante administration is re-elected. His formation plans to first release 50 million in four years, including 20 million in 2025, by extending the property tax to outdoor commercial parking lots, a measure that was not found in the platform unveiled in early October.
“It will gradually establish itself throughout the island, with rates that will certainly have to be differentiated in large-area parking lots, such as in shopping centers. We are going to set them up starting from the biggest ones and then going to the outside of the island ”, specifies Mme Ollivier. More than half of the revenues projected by training, or 150 million by 2025, come from an envelope “for new projects”. This envelope, explains the party, is a sum “already budgeted, but not yet allocated” to anticipate priorities “which could happen” during the mandate.
We have planned like that for a provision that is increasing year by year by 15 million, and we have just allocated it to the fulfillment of our promises.
Dominique Ollivier
A tax on foreign real estate investments, set up in 2023, would also bring in 6.3 million to the administration in four years, while the rents from the affordable housing program would make it possible to release 12 million. The modulation of transfer rights, promised by Valérie Plante to discourage real estate “flips”, would bring in around 3.4 million in the same period. The party also estimates to be able to release 18.7 million by promoting “organizational optimization measures” which mainly affect current expenses, such as office supplies.
In terms of capital expenditures, a net investment of $ 1.6 billion is forecast. Of this sum, 800 million will go to the construction of 60,000 affordable housing units, 500 million for the urban integration of the Eastern REM and 515 million to establish a participatory budget. About 45 million would also go to securing streets and 30 million to “accelerate library projects”, with the same amount for sports and aquatic centers.
For the municipal management expert at UQAM, Danielle Pilette, the framework of Projet Montréal remains “very conservative”. “For three years, the average annual surplus has been around 237 million. This framework is exactly in this line, it is extremely careful. We aim to avoid accusations of a spending party in the end. We play as cautiously as possible, ”she explains.
Transport and security at the heart of expenses
On the expenditure side, the most costly measure in this financial framework is the implementation of passes from the Société de transport de Montréal (STM) at half price for 12-17 year olds. This flagship campaign promise alone represents 50 million over four years, including 20 million in 2025. About 42.5 million would also go towards the establishment of free public transit for people 65 and over.
Unsurprisingly, debt repayment also monopolizes a good part of the expenses. The party plans to spend more than $ 50 million over four years to repay the principal debt, as well as $ 12.3 million to pay interest.
“You have to see it as the payment of your mortgage, insists Dominique Ollivier. It takes a lifetime. If we generate surpluses or find new sources of funding, that could be more. It will therefore be necessary to adjust according to the situation. ”
Projet Montréal plans to spend nearly $ 30 million to “counter gun violence,” to the tune of about $ 7.5 million per year. At the end of September, the party had already promised a plan of 110 million more in security by 2025, including 15 million to deploy the Mobile Mediation and Social Intervention Team (EMMIS) in all districts. Quebec should however finance part of these funds.
Finally, a sum of 12 million would go to doubling the funding for the fight against homelessness in the metropolis. Free access to museums or cultural spaces for those 17 and under, another measure promised this fall, will cost 6.5 million.
Some other figures
- 24 million : Amount projected for the planned expansion of the Palais des congrès
- 57 million : Budget released to “transform asphalt schoolyards” into local parks
- 5 millions : Amount needed to create the “Accès-Locaux” program, which aims to protect merchants from abusive rent increases.