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Municipal decision-makers struggle to reach effective solutions in asset management. The complexity of this issue increases when trying to consider more than one asset. This article proposes an approach that can optimize integrated decision-making for road, sewer, and water municipal assets. The proposed optimization is accomplished using risk assessment and a performance rating model. The model was tested on the infrastructure network of the city of Guelph and has resulted in a 36% risk dollar reduction under full integration. The model has also shown improved budget-savings when compared to the conventional silos approach. The findings aid municipal decision-makers in maximizing the benefits of their limited budgets, which will increase the number of infrastructure projects. Additionally, the results of the proposed model unveil more opportunities. Specifically, the use of more advanced computational methods along with exploring techniques that allow the user to consider multiple corridors within one repair scenario. • Novel approach for integrated infrastructure repair optimization. • Optimization via risk and performance-based assessments. • Integrating road, water, and sewer municipal infrastructure. • Provided 25% risk reduction in a real-life case study. [ABSTRACT FROM AUTHOR]