Thursday, May 13, 2021

Langley City received grants from ICBC, TransLink, and UBCM to help fund capital works projects

As I posted about Tuesday, Langley City must reconcile its budget with its actual financial results annually per provincial law. I posted about the difference in the financial plan operating budget and reserve accounts.

Today, I’ll highlight some of the changes in the capital projects plan. Capital projects are one-off initiatives such as updating the Offical Community Plan or creating new or significantly renewed tangible infrastructure such as replacing a traffic light or building a new washroom in a park.

  • Traffic Signal Upgrade - 203 St & Industrial Ave: Additional $62,500 grant from ICBC
  • Traffic Signal Upgrade - 200 St & Logan Ave: Additional $5,000 grant from ICBC
  • Traffic Signal Upgrade - 200 St & 53 Ave: Additional $2,500 grant from ICBC
  • Backup Battery Power Supplies for Traffic Signals: Additional $5,000 grant from ICBC
  • Traffic Calming: Additional $3,000 grant from ICBC
  • Douglas Crescent Renewal, 206 St to 208 St: Additional $4,000 grant from ICBC
  • Grade Crescent, 208 Street Median & 201A Street Crosswalk: Additional $24,000 grant from ICBC
  • Baldi Creek Pedestrian Bridge: $638,000 cost to be funded by developers in the area as opposed to a grant as orginally planned
  • Affordable Housing Strategy: Additional $40,000 grant from UBCM
  • Duncan Way Multiuse Path: Additional $9,500 grant from TransLink
  • Bicycle Facilities: Additional $10,450 grant from Coast Mountain Bus Company (TransLink)

These grants mean that the City can invest around $160,000 in capital funding into other projects.

City Council also approved the tax rate and tax penalty payment fees and schedule for this year. You can read more about this in a previous post.

No comments: