ADMINISTRATIVE REPORT Date: June 9, 1995 TO: Vancouver City Council FROM: General Manager of Engineering Services SUBJECT: Canada-B.C. Infrastructure Awards - Joyce at Vanness Left Turn Bay and Realignment of Keefer at Quebec RECOMMENDATIONS A. THAT $40,000 in funding be allocated from the infrastructure borrowing authority approved in the 1987-1990 Capital Plan, for the City's one-third share of the Joyce Street at Vanness Avenue Left Turn Bay project. B. THAT $107,000 in funding be allocated from the infrastructure borrowing authority approved in the 1987-1990 Capital Plan, for the City's one-third share of the Realignment of Keefer Street at Quebec Street project. COUNCIL POLICY At its meeting on September 20, 1994, Council approved funding the City's share of Canada-B.C. Infrastructure Program projects from the infrastructure borrowing authority approved in the 1987-1990 Capital Plan. PURPOSE The purpose of this report is to recommend the City's share of the Canada-B.C. Infrastructure awards, for the Joyce at Vanness Left Turn Bay and Realignment of Keefer at Quebec projects, be funded from infrastructure borrowing authority approved in the 1987-1990 Capital Plan. BACKGROUND In 1986, Vancouver voters approved a $10 million borrowing plebescite for infrastructure improvements, subject to senior government contributions covering a majority of the project costs. This was initiated as a result of the City's involvement in lobbying for a joint Federal/Provincial/Municipal program to address aging infrastructure. At its meeting on September 20, 1994, Council approved funding totalling $4,230,000 for the City's one-third share of three Canada-B.C. Infrastructure projects. A further $280,000 in funding was approved by Council on May 2, 1995, for the City's share of the Port Roadway/Transit Lane project. Funding for these projects was allocated from the infrastructure borrowing authority approved for the 1987-1990 Capital Plan. On May 1st, 1995, Canada-B.C. Infrastructure Program awards totalling $440,000 were announced for the Joyce at Vanness Left Turn Bay and Realignment of Keefer at Quebec projects. These two projects, including design, have been previously reviewed by Council and approved. FINANCIAL IMPLICATIONS - 2 - It is recommended that the City's share of the Joyce at Vanness Left Turn Bay and Realignment of Keefer at Quebec grants ($147,000 in total) come from the $10-million dollar infrastructure borrowing authority approved in the 1987-1990 Capital Plan. Using the infrastructure borrowing authority satisfies the Infrastructure Program guidelines stating funding for the local share must be in excess of existing Capital Plans, or at least represent accelerated funding. It is also consistent with the purpose for which the authority was established. Funding for these projects would be in addition to funding approved previously in the 1994-1996 Capital Plan. These projects would bring the total amount of funding from the borrowing authority up to $4,657,000, leaving a balance of $5,343,000 for future projects. * * * * *