Director Corporate Services/Treasurer Paul Dowber - File photo
Three properties owned by The Town of Smiths Falls have traces of asbestos in them that were discovered during a review to explore their legal obligations to dismantle, decommission, or rehabilitate their capital assets.
Director Corporate Services/Treasurer Paul Dowber highlighted the impacted sites.
The asbestos will have to be removed at some point during future renovations or maintenance.
In all, 95 capital items fall within the new Asset Retirement Obligation Policy, and all but four were sanitary or storm water assets
Dowber explained the financial aspect.
That means the 2023 financial statement will see the town’s liabilities increase by over $865,000, but there’s no budgetary or tax impact as a result.
Story by Grant Deme
