Agenda Index City of Vancouver

ADMINISTRATIVE REPORT

TO: Standing Committee on City Services and Budgets
FROM: General Manager of Corporate Services
SUBJECT: Vancouver Economic Development Commission -
International City Project
 

CONSIDERATION

GENERAL MANAGER’S COMMENTS

COUNCIL POLICY
Council approval is required to access reserve or trust funds.
In 1997, Council received a $100,000 donation (Asia Pacific Legacy Funds), from C.K. Choi Foundation and the David and Dorothy Lam Foundation to be held in trust, pending identification of an International Development project.

In 1999, Council approved the Vancouver Economic Development Commission’s International City Project, at a cost of $50,000, source of funds the Asia Pacific Legacy Fund.

PURPOSE
The purpose of this report is to seek Council approval of the plans to utilize the remaining portion of the Asia Pacific Legacy Fund to further develop Vancouver as a major Pacific Rim Business Centre and to promote Vancouver as a model sustainable city.

BACKGROUND

The Asia Pacific Legacy Fund was donated by the C.K.Choi Foundation and the David and Dorothy Lam Foundation and are held in trust for the Vancouver Economic Development Commission until appropriate projects are identified that meet the objectives of the fund.

The Vancouver Economic Development Commission is an independent, non-profit organization created by Council in 1997 as a focus for economic development in the City.

In 1999, the Economic Development Commission submitted a proposal to utilize $50,000 of the $100,000 fund held in trust by the City for an International City Project. On June 17, 1999, Council approved the project and the payment of $50,000 from the fund. Thegoal of the project was “To raise Vancouver’s profile as a major international city - from an institutional, business and related perspective.”

DISCUSSION

The VEDC’s International City Project has expanded since the original project proposal. The project has now been divided into two phases. Phase One was completed in May 2000; the VEDC’s Report on Phase 1: The International City Project, has been attached as Appendix 1. This report descibes the research, consultations, and promotional activities undertaken under the auspices of the International City Project. In brief, there were three components to Phase 1:

1. Review of strategic measures required to promote Vancouver’s emergence as an international city;
2. Consultations with key federal and provincial official and select corporate executives on how best to implement these measures;
3. Development of suitable promotional materials and the active promotion of Vancouver as an International City.

The cost of the initial project was identified as $120,000, of which $50,000 was provided from the Asia Pacific Legacy Fund. The remaining $70,000 was to be raised through a combination of corporate sponsorships, private sector funds, and contribution of services in kind. In actuality, the VEDC received $148,154 from a variety of sources for the project; those sources include the Asia Pacific Legacy Trust, corporate sponsorship, revenue generation activities, federal government support (through the Program for Export Market Development-Investment), and the City of Vancouver’s core contract with the VEDC. Funds received have been expended to carry out Phase 1 of the project.

The VEDC has submitted an application to the City of Vancouver for Phase 2 of the International City Project; this application is attached as Appendix 2. The application requests funding of $50,000, source of funds to be the Asia Pacific Legacy Fund. If approved, the allocation of $50,000 would fully deplete the Asia Pacific Legacy Fund. The donors of the fund have sent the General Manager of Corporate Services written confirmation that the proposed project is in keeping with the objectives and intent of the trust; this letter is attached as Appendix 3. The overall cost of Phase 2 of the International City project is $120,000.

The goal of Phase 2 of the International City Project is “To finalize a strategic plan to develop Vancouver as a major Pacific Rim Business Centre and to promote Vancouver as a model sustainable city.” The project outline identifies two components to Phase 2:

1. Strategy Development - development of a comprehensive strategic plan to develop Vancouver as a major Pacific Rim Business Centre; the plan will provide a blueprint for a multi-year initiative to attract a major international organization to Vancouver.
2. Promotion of Sustainable Vancouver - assembly of information and promotional materials relevant to “livable cities”. These will be available to incoming delegations and the world. The VEDC will work with a number of partners on this component of the project.

These two components build on the components of the original project as submitted by the VEDC.

The overall cost estimate of Phase 2 of the project is $120,000. The VEDC proposes funding Phase 2 of the International City Project through the following:
… $50,000 from the Asia Pacific Legacy Fund;
… $50,000 from Program for Export Market Development-Investment (PEMD-I) that is managed by Industry Canada (these are matching funds - the VEDC will be eligible only if $50,000 is raised for the project from other sources such as the Asia Pacific Legacy Trust);
… $10,000 from the Commission’s Core Funding budget (received from the City of Vancouver);
… $10,000 from other partners through cash contributions of in kind donations.

CONCLUSION
The funding request for VEDC’s International City Project, Phase 2, is submitted for Council’s consideration. The project was identified as an objective in the 2000 Business Plan, and is in keeping with the objectives of the Vancouver Economic Development Commission as well as the requirements of the Asia Pacific Legacy Fund. The allocation of $50,000 from the Asia Pacific Legacy Fund will fully deplete this source of funding for international development projects.

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Appendices 1, 2 and 3 on file in the City Clerk's Office

cs000727.htm

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