2014 capital plan borrowing
The Capital Plan is a four-year financial plan for investments in our city’s facilities and infrastructure. All City services, from parks and community facilities, to streets, sidewalks, and water, require buildings and other infrastructure to support them.
A portion of the Capital Plan is funded using debt, and any debt incurred by the City, except for utilities like waterworks and sewers, requires citizen approval.
The total Capital Plan for 2015-2018 is $1.085 billion, of which $235 million requires citizen approval. There were three borrowing questions in 2014.
1. Parks and recreation
This question asked for the authority to borrow funds to be used in carrying out the basic capital works program with respect to parks and recreation.
"Are you in favour of Council having the authority, without further assent of the electors, to pass bylaws between January 1, 2015 and December 31, 2018 to borrow an aggregate $58,200,000 for the following purposes?"
| Program | Description | Amount |
|---|---|---|
| A. Parks | To provide for major maintenance, upgrading or replacement of existing parks and features within parks, such as pathways, playgrounds and playfields that are beyond economical repair or no longer meet operational requirements. | $17,950,000 |
| B. Recreational and exhibition facilities | To provide for major maintenance, upgrading or replacement of existing recreational, entertainment and exhibition facilities that are beyond economical repair or no longer meet operational requirements, and provision of new recreational facilities to serve Vancouver’s growing population. | $40,250,000 |
| Total | $58,200,000 |
With the assent of the electors, Council has the power, without further assent of the electors, to pass bylaws, as and when Council considers appropriate, to borrow money for the projects described up to $58,200,000.
2. Public safety and public works
This question asked for the authority to borrow funds to be used in carrying out the basic capital works program with respect to public safety and public works.
"Are you in favour of Council having the authority, without further assent of the electors, to pass bylaws between January 1, 2015 and December 31, 2018 to borrow an aggregate $95,700,000 for the following purposes?"
| Program | Description | Amount |
|---|---|---|
| A. Public safety facilities | To provide for major maintenance, upgrading or replacement of existing public safety facilities, such as fire halls and police buildings, that are beyond economical repair or no longer meet operational requirements. | $22,250,000 |
| B. Street and bridge infrastructure | To provide for major maintenance, reconstruction and enhancement of the arterial and neighbourhood transportation networks, greenways and cycle routes and to undertake major maintenance of bridges and other structures. | $56,450,000 |
| C. Street lighting, traffic signals, and communications systems | To provide for major maintenance, replacement and expansion of street lighting, traffic signal, and communications systems that are beyond economical repair or no longer meet operational requirements. | $17,000,000 |
| Total | $95,700,000 |
With the assent of the electors, Council has the power, without further assent of the electors, to pass bylaws, as and when Council considers appropriate, to borrow money for the projects described up to $95,700,000.
3. Community and civic facilities
This question asked for the authority to borrow funds to be used in carrying out the basic capital works program with respect to community and civic facilities.
"Are you in favour of Council having the authority, without further assent of the electors, to pass bylaws between January 1, 2015 and December 31, 2018 to borrow an aggregate $81,100,000 for the following purposes?"
| Program | Description | Amount |
|---|---|---|
| A. Community facilities | To provide for major maintenance, upgrading or replacement of existing community facilities, such as libraries, cultural facilities, affordable housing, social facilities and childcare centres, that are beyond economical repair or no longer meet operational requirements, and provision of new community facilities to serve Vancouver’s growing population. | $59,750,000 |
| B. Civic facilities and infrastructure | To provide for major maintenance, upgrading or replacement of existing civic facilities and infrastructure, such as information technology systems, civic offices and maintenance yards, that are beyond economical repair or no longer meet operational requirements. | $21,350,000 |
| Total | $81,100,000 |
With the assent of the electors, Council has the power, without further assent of the electors, to pass bylaws, as and when Council considers appropriate, to borrow money for the projects described up to $81,100,000.