Vancouver City Council |
MOTION ON NOTICE
At the Regular Council meeting on December 14, 2004, the following Notice of Motion was submitted by Councillor Bass, and recognized by the Chair.
1. Immediate transfusion of $250 million by Parliament needed for continued productivity of the Green Municipal Funds (File 1257)
MOVER: Councillor Bass
SECONDER: Councillor
WHEREAS the Partners for Climate Protection Program managed by the Federation of Canadian Municipalities (FCM) depends for its implementation on the Green Municipal Funds received from the federal government (thus far $50 million dollars for the Enabling Fund and $200 million dollars for the Investment Fund);
AND WHEREAS, these funds have proved to be a very efficient instrument for addressing Canada's $60 billion dollar deficit in ailing infrastructure, the funds leveraging more than four times their total in collateral infrastructure investment;
AND WHEREAS, the Enabling Funds will be fully allocated by 2007 and the Investment Funds will be fully allocated by the end of 2005;
AND WHEREAS, another $200 million dollars promptly invested in the Investment Fund will enable this permanent revolving loan fund to continue lending to municipalities in 2006-2010 after which time the initial loans will be returning to provide further funds to lend;
AND WHEREAS, this investment has been one of the most cost-effective ways of reducing greenhouse gas emissions;
THEREFORE BE IT RESOLVED THAT the City of Vancouver join the Federation of Canadian Municipalities in urging the Government of Canada to double its investment in the Green Municipal Funds by adding $250 million dollars to these funds in 2005.
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