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2015-2018 Capital Plan proposes major investments in affordable housing, childcare, transportation

July 3 2014

Vancouver City Hall

The City of Vancouver’s draft 2015-2018 Capital Plan, which will be presented to Council on July 9, identifies $1.08 billion of capital investment priorities for the City for the next four years with a focus on affordable housing, childcare, and transportation.

Highlights from the draft plan

Highlights from the draft plan:

  • The addition of 2,550 non-market housing units
  • 1,000 new childcare spaces
  • The addition of three new parks for Downtown South, Marpole, and East Fraser Lands
  • A variety of transportation investments that will prioritizes the safe, comfortable, and efficient movement of pedestrians, cyclists, transit users, and trucks/train

Renewing existing infrastructure

$730 million, or two-thirds of the 2015-2018 Capital Plan, invests in the renewal of existing city infrastructure, including:

  • Britannia Community Centre
  • Fire Hall #17 at Knight and 54th Avenue
  • 60 km of sewer separation
  • 10 km of sidewalks
  • Sport fields
  • Sport courts

Goals of the capital planning process

Guided by the 2015-2024 Capital Strategic Outlook, the main goal of the capital planning process is to develop a capital investment plan which balances the needs to:

  1. Maintain infrastructure and facilities in an appropriate state of good repair
  2. Optimize the network of public amenities to best serve residents and businesses
  3. Advance Council and community priorities within the City’s long-term financial capacity

Proposed investments

The recommended $1.08 billion plan includes the following investment proposals:

  • Affordable housing: $125 million
  • Childcare: $30 million
  • Parks, open spaces, and recreation: $125 million
  • Libraries, social, and cultural facilities: $40 million
  • Transportation: $150 million
  • Utilities and public works: $325 million
  • City facilities, including public safety facilities: $15 million
  • Facility maintenance and renovations: $65 million
  • Equipment and technology: $115 million
  • Emerging priorities and inflation contingency: $95 million

How the Capital Plan is funded

Based on the City’s capital spending rate of $250 million - $270 million per year, the 2015-2018 Capital Plan will be funded from:

  • $400 million debenture borrowing
  • $155 million pay-as-you-go (including $90 million capital from revenue)
  • $530 million of other funding from the City (e.g. reserves)
  • Other orders of government and community partners

Public consultation

In order to better understand the needs and priorities of the public, the City rolled out a public engagement program under the theme of ‘Building the City of Today and Tomorrow’ in May. Three face-to-face events were held and over 950 participants filled out an online questionnaire.

Participants concerns

The results, which were incorporated into the draft capital plan, revealed that in the short-term, participants were concerned with basic infrastructure (water and sewer pipes as well as sidewalks) and access to nature (seawall and trails). When looking to the future, the participants identified rapid transit, affordable housing, and childcare as the top three priorities, which were in alignment with Council’s strategic priorities.

Future public consultation

A second round of public engagement will take place throughout July to gain public input on the draft capital plan and will include an online questionnaire and stakeholder meetings.

The results will feed into the final Capital plan which will be presented to Council in September 2014, and must be approved by voters in the November election.

Overall City budget to be presented to Council in December

The Capital Plan and its corresponding annual budget is then combined with the operating budget, which sets the spending targets for the day-to-day operations of the City, to form the overall budget for the City which is presented to Council in December.

Learn more about the 2014 budget