Council Report - BYLAW NO 877-878, 2013 BEING BYLAWS TO EXPEND MONIES IN THE DCC RESERVES
Staff report recommending the expenditure of Development Cost Charge (DCC) reserves for master transportation and drainage plans.
TOWN OF VIEW ROYAL
Council Report
TO: Council DATE: November 27, 2013 FROM: J. Beauchamp, Director of Finance MEETING: December 3, 2013
BYLAW NO 877-878, 2013 BEING BYLAWS TO EXPEND MONIES IN THE DCC RESERVES
RECOMMENDATION:
TO provide first three readings to Development Cost Charge Reserve Fund Expenditure Bylaw No. 877, 2013.
AND TO provide first three readings to Development Cost Charge Reserve Fund Expenditure Bylaw No. 878, 2013
CHIEF ADMINISTRATIVE OFFICER’S COMMENTS:
I concur with the recommendation.
BACKGROUND:
The 2013 Financial Plan includes $20,000 for the Master Transportation Plan and $55,000 for the Master Drainage Plan with the funding to come from Development Cost Charges. These projects are now underway and Section 935 of the Local Government Act states that authority to make payments from a Development Cost Charge Reserve Fund must be authorized by bylaw. Bylaw 877 and 878 will give the Town the authority to fund these projects from their respective DCC Reserve Funds.
RECOMMENDATION:
TO provide first three readings to Development Cost Charge Reserve Fund Expenditure Bylaw No. 877, 2013.
AND TO provide first three readings to Development Cost Charge Reserve Fund Expenditure Bylaw No. 878, 2013
SUBMITTED BY: J. Beauchamp, Director of Finance
REVIEWED BY: K. Anema, Chief Administrative Officer
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