Vancouver drafts 4-year $2.6B infrastructure plan
May 31, 2018
By
CCE
The city's proposed 2019-2022 Capital Plan includes investments to support much needed renewal of aging assets, along with investments in new infrastructure and amenities.
The City of Vancouver’s draft 2019-2022 Capital Plan (to be presented to City Council on June 5) proposes $2.6 billion in capital investments to support the renewal of aging assets, along with investments in new infrastructure and amenities.
Examples of renewal projects include the Marpole Community Centre, the Marpole Library, the Britannia Centre, repairs and seismic upgrades to the Granville Bridge, a seismic upgrade to Firehall #12 in Kitsilano, and preparation of a master plan for the West End Community Centre site.
New infrastructure and amenities include support for the Millennium Line Broadway Subway extension, construction of 1,200 to 1,600 units of non-market rental housing, creation of approximately 1,000 new childcare spaces, an outdoor pool in Marpole, the Oakridge Civic Centre and the delivery of a public plaza at 800 Robson.
The $2.6 billion plan is comprised of:
- $2.0 billion of proposed City-led investments funded through City taxes and fees, development, and partnership contributions
- $0.6 billion of in-kind contributions from development, having been secured through approved rezoning or other conditions of development
About two-thirds of the City-led investment -$1.3 billion-is allocated to maintenance, renewal or upgrades to existing aging infrastructure and amenities. The remaining one-third ($0.7 billion) along with the $0.6 billion of in-kind development contributions, represent investments in new or upgraded infrastructure and amenities to support growth.
According to the city, half of its underground water and sewer infrastructure was built prior to 1965 and is approaching the end of its expected life cycle. Likewise, approximately 40% of the city’s buildings are 40 or more years old, and other above ground infrastructure such as roads and sidewalks needs continual upgrading.
On June 5 Vancouver City Council will be asked to approve in principle a borrowing limit of $495 million to support the four-year Capital Plan. As part of the municipal election process in October, Vancouver residents will be asked to vote to approve the borrowing for all non-utility debt.
Public engagement will take place throughout June to solicit feedback on the draft Capital Plan and will include online and telephone surveys, focus groups and face-to-face opportunities at multiple locations across the city. The public’s feedback on the draft plan will be incorporated into the final Capital Plan, which City Council is expected to consider by the end of July.
