MONTREAL -- The City of Montreal released its annual financial report for 2019 on Wednesday, unveiling a $250-million budget surplus, an increase of $38.2 million compared to 2018.

The overall surplus of $ 250.9 million consists of $ 59.9 million generated from the urban agglomeration council and another $191 million produced by the municipal council, including $72.6 million for the boroughs and $ 118.4 million for central services, a news release from the city reads.

Montreal also became the first city in Quebec to release financial information relating to climate change, following the Task Force on Climate-related Financial Disclosure established by the Financial Stability Board (FSB). The disclosure follows Toronto and Vancouver’s lead.

In addition to “tight control of spending, both by the municipal council and by the boroughs,” the city said an additional $143 million (2.6 per cent) in revenues helped generate the increase.

Those revenues are due in part to a strong real estate market that generated $94.6 million in transfer payments, in addition to $26.3 million for construction and renovation permits.

Strong economic activity and interest income contributed an additional $51 million, the city said.

INFRASTRUCTURE INVESTMENTS

Montreal is continuing its investments into the Three-Year Capital Works Program (PTI), which mainly deals with the city’s ageing infrastructure.

Montreal invested $1.8 billion in 2019, an increase of $101.3 million (5.9 per cent) compared to the year before. Most of it went to maintaining water and road networks.

  • $579.4 million (+ 2.5%) for the environment and underground infrastructure
  • $502.6 million (+ 2.7%) for road infrastructure
  • $ 331.0 million (+ 17.5%) to buildings

In the report, the city underlined its four main priorities: ecological transition, housing, mobility and the economy.

ECOLOGICAL TRANSITION

The city said it has mobilized all of its departments to reach the ambitious environmental targets it has set, including reducing greenhouse gas emissions by 55 per cent by 2030 from 1990 levels.

  • $146.7 million was earmarked in 2019 for environmental management
  • $102.7 million for the creation and development of large parks

Some of the highlights:

  • creating the Office for Ecological Transition and Resilience (BTER), which supports the city in its green transformation and increases its resilience to environmental challenges, such as the climate crisis and the loss of biodiversity
  • $174 million for residual materials management in 2019, an increase of $5.7 million compared to 2018. The city also developed a Materials Management Master Plan, with the goal of reaching zero waste by 2030;
  • creating  a carbon-neutral district on the Namur-Hippodrome site and the launch of the C40 Reinventing Cities call for tenders to transform underused sites
  • planting 37,000 trees and treating 26,000 trees in the fight against the emerald ash borer

HOUSING

The City of Montreal said it is continuing to step up its efforts to create “diversified, healthy and affordable” housing.

“The city is also preparing to adopt, after wide public consultation, a regulation for a mixed metropolis that marks the inclusion of social, affordable and family housing,” the city said in its news release.

  • $86.9 million in investments went to housing, an overall increase of $46.3 million

Several measures are beginning to take shape, the city said

  • 57 per cent of the city’s target of 12,000 social and affordable housing units has been reached by mid-term with the development or implementation 2,850 social housing projects and affordable housing interventions, helping 4,000 households
  • 1,300 rental units have been renovated thanks to subsidies, including 200 by co-ops or non-profit organizations, through the revision of home improvement programs
  • 2,700 dwellings were inspected by the city's sanitation division.

MOBILITY

In 2019, the City of Montreal agreed to investments of $495.1 million, in addition to contributing $541.8 million to the Regional Metropolitan Transport Agency (ARTM).

Vision Zero safety measures continue to be implemented to help make roads safer for its most vulnerable users: seniors, youth, cyclists and pedestrians.

The main investments include:

  • $389.2 million to improve road infrastructure, including repairs, reconstruction or redevelopment of 197 kilometres of streets
  • $75.5 million to improve and secure urban development
  • redeveloping and securing 102 intersections
  • $37.4 million for the development of active and public transportation (including rapid bus service on Pie-IX Boulevard, a rapid bicycle network, the addition of 23 kilometres to bike paths, the purchase of Bixi bikes and electric charging stations)
  • Creating the Department of Sustainable Mobility Projects and consolidated its Mobility Squad. The team of 11 inspectors has conducted over 9,000 interventions to improve the flow and safety of travel in the city.

ECONOMIC DEVELOPMENT

The City of Montreal said it invested $ 92.8 million in support businesses in 2019, an increase of $31.1 million over 2018.

Among the initiatives:

  • speeding up ecological transition by adopting the 2030 Montreal Agenda for quality and exemplarity in design and architecture, as well as developing “a coherent and promising vision for eastern Montreal”
  • support for retail businesses with various programs to stimulate, revitalize or consolidate commercial streets
  • support for electric and intelligent transport projects, including initiatives for environmentally-friendly transport of goods and services in urban areas
  • support for various initiatives for diversity and the inclusion
  • support for the development and innovation and talent via, among other programs, a network of experts financing and supporting entrepreneurs and businesses, including PME MTL, Parcours Innovation PME Montréal and the Creative Cabinet.