VANCOUVER — To cope with the COVID-19 pandemic, the City of Vancouver has announced it will be altering its current capital plan by scaling back or postponing some large, multi-year projects.
In a report presented to council recently, staff recommended a series of adjustments after the city saw an estimated $219 million drop in development and partner contributions due to stagnant development activity following the start of the pandemic.
The city will now reduce its four-year capital plan by $254 million from $2.9 billion to $2.6 billion. As some capital projects are funded from property tax and utility fees on a pay-as-you-go basis, estimated savings of $10 to $29 million are expected to help reduce the immediate pressure on property taxes and fees in 2021 and 2022.
Some of the scaled back/delayed projects include:
- Renovation and construction work on Manitoba Yards and work on city hall campus buildings ($3.25 million)
- Delayed park construction ($26.3 million)
- Gastown complete streets project ($7.2 million)
- Georgia Gateway West complete streets project ($4.5 million)
In addition to the cuts, staff have proposed the following investments:
- $48 million to support the Resilience Strategy including the Grandview Firehall renewal and expansion project and relocation of the city’s data centre
- $12 million for zero emissions buildings and public electric vehicle charging infrastructure
- $5 million to support equity-based projects with community partners and improved accessibility at community facilities