Yesterday, I posted about the proposed BC Builds Affordable Rental Mixed-Use Project at 49th Avenue and 200th Street, and today, I will post about the remaining items addressed at Monday's Langley City Council meeting.
Council approved a contract worth $689,700 to Crown Contracting Ltd and $5,300 to W.K. Williams Engineering Consultants Ltd. to upgrade various traffic signals throughout the City. The City is also setting aside a $68,970 contingency for this project.
Council also changed who chairs and co-chairs our Crime Prevention Committee. Councillor Albrecht will chair the committee, and Councillor Solyom will co-chair. If you would like to volunteer for this committee, please visit Langley City's website.
When people build a project in any municipality, they must provide bonds or deposits to the municipality. For example, you must pay a deposit for landscaping in new projects to ensure that the landscaping survives at least a year. Any landscaping that dies after one year needs to be replaced. This deposit is returned after this one year and after the City verifies that all landscaping is alive and to the original plan.
Some municipalities are piloting allowing surety bonds instead of cash deposits. Instead of a builder having to give cash to a municipality for a deposit, they would take out an "insurance plan" that would be paid out to a municipality if a builder didn't meet their obligations. Surety bonds could help lower the cost of housing project construction. Council passed a motion asking that we consider exploring a surety bond program as part of our upcoming strategic planning.
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