Vancouver City Council |
ADMINISTRATIVE REPORT
Date: April 30, 2003
Author/Local: M. Vulliamy/
604-257-8461
RTS No. 03371
CC File No. 03102
CS&B: May 15, 2003
TO:
Standing Committee on City Services and Budgets
FROM:
General Manager Board of Parks and Recreation
SUBJECT:
2003 Park Board Basic Capital Budget
RECOMMENDATION
THAT the Park Board 2003 Basic Capital Budget of $10,080,000 outlined in Appendix A to this report be approved with the following sources of funding:
· $7,030,000 from borrowing authority approved by the voters as part of the 2003-2005 Capital Plan
· $1,050,000 from Capital from Revenue approved as part of the 2003 Operating Budget
· $650,000 from City Wide Development Cost Levies for park development
· $750,000 from Community Amenity Contributions provided by the Bayshore development
· $600,000 from Park Board partner organizations, including community centre associations.POLICY
Council has final approval over the annual Capital Budgets for all department and boards.
BACKGROUND
The 2003 - 2005 Park Board Capital Plan totals $45,500,000, plus $240,000 for debenture costs, derived from the following funding sources:
· Electorate-approved borrowing authority (including debenture costs)
$18,690,000
· Capital from operating revenue
$7,500,000
· City Wide Development Cost Levy for park acquisition and development
$9,200,000
· SE False Creek Development for Mt. Pleasant Community Centre renewal
$2,000,000
· HEI Lease 2003 - 2005 for Hastings Park restoration
$1,350,000
· Waterworks Capital for Queen Elizabeth Park Reservoir Roof Deck Plaza replacement
$2,000,000
· Bayshore Development funds for Stanley Park Seawall upgrading
$2,000,000
· Matching Funds for Sunset Community Centre renewal (contingent upon receipt of senior government funding)
$3,000,000
On February 25, 2003, Council approved borrowing authorities of $2,168,500 in advance of the 2003 Capital Budget for fifteen 2003 Capital Projects as requested by Park Board. The basic Capital funding requested in this report includes this amount.
DISCUSSION
This report asks Council to approve the Park Board 2003 basic capital budget of $8,080,000, and to approve as well funding allocations from other sources for parks and recreation capital projects totaling $2,000,000, as here itemized:
· Bayshore In-lieu Development Funds to repair and upgrade the Stanley Park Seawall
$750,000
· City-wide DCL for Park Land acquisition
$650,000
· Board Partner Organizations Contributions to various capital projects
$600,000
The specific projects funded by partner contributions and the date of their formal acceptance by the Board are as follows:
Partner Organization/Project
Commitments
Board Approval
West End Community Association for program space expansion at West End Community Centre
$180,000
37633
Renfrew Park Community Association for Renfrew Park Pool Renewal2
$390,000
37717
Meraloma Club for Connaught Park Fieldhouse fire protection
$30,000
37661
Total
$600,000
The 2003 capital budget also includes $2,000,000 from Engineering Waterworks Capital to fund the rebuilding of Little Mountain Reservoir Deck in Queen Elizabeth Park.
Other capital investment planned for 2003 addresses a number of neighbourhood park renewal projects; rebuilding of grass sports fields, playgrounds and tennis courts; major maintenance and repairs to park and facility infrastructure; shoreline and cliff erosion control; and continuation of the long term Street Tree Management Plan and the Stanley Park Forest Renewal Plan.
The capital budget was approved by Park Board at its meeting of February 10, 2003, with Partner donations approved on the dates noted above.
CONCLUSION
Council is asked to approve the Park Board's 2003 basic Capital Plan Budget of $8,080,000 and $4,000,000 in additional allocations to specified capital projects for a total parks and recreation capital spending program of $12,080,000.
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