Capital Plan 2012-2014

• Introduction
• Background

Introduction

The Capital Plan is the principal funding source for major Park Board construction projects. The Plan covers a three-year period and provides funding for projects that will improve parks and recreation services in the city of Vancouver. The Park Board is also responsible for all street trees within the municipality.

For the Park Board, the City's Capital Plan serves three basic purposes:

• To renew and enhance the existing Park Board assets (more than 200 parks and 200 buildings);
• To improve services to meet the changing leisure needs of the population (e.g. providing areas for Tai Chi and for skateboarding); and
• To expand services to meet the needs of a growing population (e.g. new parks and larger community centres).

In an effort to increase efficiencies around the capital plan and other processes, a Vancouver Services Review staff team is reviewing financial planning processes and timelines around the capital program to make it more transparent and allow for longer term financial forecasting. Staff have drafted a ten-year strategic outlook for all capital projects - this will improve Vancouver's ability to perform long-term asset management. The ten year Capital Strategic Outlook shifts planning from a departmental to citizen service view. The three year Capital Plan 2012 - 2014 is structured within the new framework.

On May 30, the Board was provided with a Capital Plan Process Update, including an outline of the new framework, categories and timelines. The new 3 year Capital Plan process moves from departmental (such as Parks) submission categories to service-based ones (such as Community Facilities, Parks and Open Spaces, Civic Infrastructure.) Submissions to Park Board from the public were considered in prioritising planned expenditures within the new categories and at the annual Capital Budget planning stage.

The 2012-2014 Capital Plan was endorsed the Park Board on September 19th, and approved by Council on September 22nd, 2011. As part of the municipal election on November 19, 2011, voters approved the plan to proceed with borrowing the $180 million needed to complete projects outlined in the Capital Plan.

Please see the City of Vancouver Capital Plan webpage for further information and additional background.

Park Board Contact:
Megan Stuart-Stubbs, Planning Analyst 604-257-8403
ParkBoard.CapitalPlan@vancouver.ca