Building Langley City’s Future: $111 million proposed to be invested over the next five years

On Monday night, the proposed 2020-2024 Financial Plan was giving first and second reading at the Langley City council meeting. This is the start of the process of adopting this year’s budget for our municipality.

Since the arrival of higher-quality transit service such as the new Fraser Highway Express to Langley City, and in preparation for the arrival of SkyTrain which is planned to start construction in the next few years along Fraser Highway, Langley City council adopted the Nexus of Community vision.

Six key initiatives of the Nexus of Community vision. Select image to enlarge.

This is a bold vision which will require significant investments to be made in our community. While we have been making good progress in planning for our future within the context of the Nexus of Community vision, we have a time-limited opportunity to act to help shape our community before the arrival of the SkyTrain. This is why council is proposing to invest a record $111 million into infrastructure and strategic land acquisition over the next five years.

$50 million of this proposed investment will be dedicated to Nexus of Community specific projects including:

$31 million for strategic land acquisition which will ensure that Langley City leads redevelopment in a way that maximizes the benefit to our residents and businesses.

$10 million for expanding the civic precinct which include City Hall, Timms Community Centre, the Library, and the proposed new Preforming Arts and Cultural Centre.

$6 million to renew Downtown Langley, including rebuilding the Fraser Highway One-Way to be the walkable centre for Langley and a destination for people arriving by SkyTrain to our community.

Concept plan for the Nicomekl River District. Select image to enlarge.

$3 million to further enhance our parks and trail network, including the Nicomekl River District plan.

We have a limited opportunity before the arrival of SkyTrain to get the ball rolling on this investment plan, so the City is proposing to borrow $10 per year over the next five years for these Nexus of Community specific projects. This borrowing will be funded by a modest 3% or less annual property tax increase over five years. This will be paid back in full over the next 15 years. Langley City residents will be able to have a direct say on this borrowing, and I will post more about how shortly.

These Nexus of Community projects will:

• Improve the quality of life for all of us that call Langley City home
• Lead redevelopment of our community from a position of strength
• Build early-win projects that ready us for the arrival of SkyTrain
• Take advantage time-limited partnership opportunities due to SkyTrain
• Deliver greater long-term financial gains which can be reinvested to support residents and businesses in our community

Tomorrow, I’ll be getting into more detail about some of the proposed projects and priorities for 2020.