HomeMy WebLinkAbout2004-05-17 Council Meeting Agenda and ReportsCORPORATION OF THE DISTRICT OF MAPLE RIDGE
NOTICE OF SPECIAL COUNCIL MEETING
Please be advised that a Special Council Meeting has been called pursuant to
Section 174 of the Community Charter, as follows:
DATE: May 17, 2004
HOUR: 3:00 p.m.
PLACE: Council Chamber, Municipal Hall
A GENDA
CALL TO ORDER
MAPLE RIDGE FINANCIAL PLANAMENDING BYLA WNO. 6238-2004
Staff report dated May 11, 2004 recommending that Maple Ridge Financial Plan
Amending Bylaw No. 6238-2004 to provide for a transfer of $300,000 to the
District's subsidiary to make $125,000 deposits each for the Tower Project and the
Civic Centre Project and other related costs until all other financial arrangements
have been completed be given three readings.
ADJOURN
Datedthis i3thdayo.fMay,.2.004 - --
CORPORATION OF THE DISTRICT OF MAPLE RIDGE
TO: Her Worship Mayor Kathy Morse DATE: May 11, 2004
and Members of Council FILE NO:
FROM: Chief Administrative Officer ATTN:
SUBJECT: 2004-2008 Amending Financial Plan Bylaw No. 6238 - 2004
EXECUTIVE SUMMARY:
In order to complete the execution of the Purchase and Sale Agreements of the Maple Ridge Town Centre
(i.e. Core Project), it is now necessary to amend the 2004 - 2008 Amending Financial Plan Bylaw
No. 6225 - 2004. The amended by-law presented for consideration and adoption provides for a transfer
of $300,000 to the District's Subsidiary. These funds will be used to make $125,000 deposits each for the
Tower Project and the Civic Centre Project and other related costs until all other financial arrangements
have been completed.
RECOMMENDATION:
That the Maple Ridge Financial Plan Amending Bylaw No. 6238 - 2004 be read a first, second and
third time.
DISCUSSION:
Background Context:
The District is currently authorized to make expenditures under the 2004 - 2008 Amending
Financial Plan Bylaw No.6225 - 2004. However, this plan did not make provision for any
acquisition of the Maple Ridge Town Centre as the nature of the agreement was unknown.
Section 174 of the Community Charter provides that a municipality cannot make an expenditure
that is not provided fir in it's financial plan. The changes to the financial plan reflect the need to
make deposits of $125,000 deposits each for the Tower Project and the Civic Centre Project.
The Community Charter requires that the District provide notice and the opportunity for public
consultation on this amendment. Notice was provided in the Times informing the public of
Council attending to this matter at the Council Workshop, Committee of the Whole and a Special
Meeting of Council on May 17, 2004. The public will have the opportunity to speak on this
matter at the Committee of the Whole and on the Budget Hotline @ 604-467-7484.
Adoption of the 2004 - 2008 Amending Financial Plan Bylaw No. 6238 - 2004 will enable the
Municipality to make the necessary transfer and deposits.
Strategic Alignment:
Council wishes to advance the execution of the Purchase and Sale Agreements of the Maple
Ridge Town Centre and making the deposits is a step in that direction.
Financial Plan/Business Plan Implications:
The amount required is provided from Accumulated Surplus and does not affect current taxation
or other fees; neither does this transaction impact any other expenditure or service level
previously approved.
oil..
Citizen/Customer Implications & Communications:
Under the current "Open Government" structure the public has continuous access to present
commentary and ask questions with regard to the changes proposed. An open invitation was
extended to the public to attend the Council Workshop and the Committee of the Whole. In this
way they are welcome to listen to the Council discussion and are able to provide feedback at the
Committee of the Whole meeting. Feedback can also be provided using the telephone "budget
hotline."
Policy Implications:
None; all amendments are as per statutory requirement and necessary to provide for the
expenditure.
Alternatives:
In the event this bylaw is not adopted, the District is not authorized to advance funds to the
Subsidiary that will enable making the deposits; these are required for the execution of the
Purchase and Sale Agreements of the Maple Ridge Town Centre.
CONCLUSIONS:
Council, through appointed negotiators and staff, has been negotiating with the developer to acquire the
assets of the Maple Ridge Town Centre. In order to complete the execution of the Purchase and Sale
Agreements of the Maple Ridge Town Centre, it is now necessary to adopt the 2004 - 2008 Amending
Financial Plan Bylaw No. 6225 - 2004 provides for deposits of $300,000 to the District's Subsidiary.
These funds will be used to make $125,000 deposits each for the Tower Project and the Civic Centre
Project.
Prepared by: Trevor Thompson, BBA
Budget Officer
Reviewed & ConcurreaG.Sorba,CGA
Director of Finance
Approved by: Pau GBA, CGA
GM - Corp. & Financial Services
Concurrence: J. L. (Jim) Rule
CAiief Administrative Officer
JGS/jgs /
(alamt~ MAPLE RIDGE IncOrporaled 12 Soptomtror. 1874
CORPORATION OF THE DISTRICT OF MAPLE RIDGE
BY-LAW NO. 623 8-2004
A By-law to amend the 5 year Financial Plan for the years 2004 through 2008
The Council for the District of Maple Ridge in open meeting assembled, enacts as follows:
This By-law may be cited for all purposes as "Maple Ridge Financial Plan Amending By-law No.
6238-2004".
Statement 1 of Maple Ridge Financial Plan Bylaw No. 6225-2004 is deleted in its entirety and
replaced with Statement 1 attached hereto and forming part of this by-law.
Maple Ridge Financial Plan Bylaw No. 6183-2003 is repealed in its entirety.
READ a first time the day of 2004.
READ a second time the day of 2004.
READ a third time the day of 2004.
RECONSIDERED and adopted the day of 2004.
MAYOR
CLERK
Attachment: Statement 1
Attachement to Financial Plan Amending Bylaw 6238 - 2004
Statement I
Consolidated Financial Plan 2004-2008
2004 2005 2006 2007 2008
REVENUES
External Revenues
Property Taxes $34,462,300 $36,655,186 $38,971,176 $41,056,549 $43,007,158
Parcel Charges $1,818,045 $1,858,820 $1,900,543 $1,935,734 $1,971,491
Fees & Charges $19,039,004 $19,552,881 $20,164,369 $20,860,832 $20,923,561
Interest $1,735,000 $1,725,000 $1,725,000 $1,725,000 $1,725,000
Grants (Other Govts) ' $6,702,464 $2,685,579 $2,790,377 $2,247,197 $3,739,908
Property Sales $5,550,000 $0 $0 $0 $0
Development Fees
Developer Cost Charges $15,370,137 $4,450,819 $3,989,385 $4,352,591 $4,031,344
Developer Specified Projects $63,507 $0 $0 $15,750 $25,984
Parkiand Acquisition $280,248 $200,000 $200,000 $200,000 $200,000
Development Fees Total $15,713,892 $4,650,819 $4,189,385 $4,568,341 $4,257,328
Total External Revenues $85,020,705 $67,128,285 $69, 740,850 $72,393,653 $75,624,446
Internal Revenues
Borrowing Proceeds $0 $0 $18,588,754 $10,743,877 $350,000
Transfer from Reserve Funds
Land Reserve $858,342 $0 $0 $0 $0
Local Improvement Reserve $0 $0 $0 $0 $0
Equipment Replacement Reserve $1,513,648 $1,967,750 $1,633,364 $591,828 $841,516
Sanitary Sewer Reserve $0 $487,565 $0 $0 $0
Capital Works Reserve $4,847,609 $499,000 $2,309,500 $36,000 $310,000
Fire Department Capital Reserve $931,546 $881,110 $1,637,500 $250,000 $1,750,000
Transfer from Reserve Fund Total $8,151,145 $3,835,425 $5,580,364 $877,828 $2,901,516
Transfer from Own Reserves $10,442,159 $4,671,719 $4,074,297 $4,606,541 $4,602,888
Transfer from Surplus $5,676,456 $1,931,858 $0 $209,110 $0
Total Internal Revenues $24,269, 760 $10,439,002 $28,243,415 $16,437,356 $7,854,404
TrTAI 0=%/=PJ11PQ 1 flq2q0465 $77.567.287 $97.984.265 $88.831 .009 $83,478,850
Expenditures
External Expenditures
Capital Expenditures $41,589,998 $14,997,259 $14,680,987 $10,572,818 $14,286,115
Principal Payments on Debt $1,697,258 $1,597,224 $19,577,718 $11,514,845 $666,732
Interest Payments on Debt $2,822,313 $2,737,440 $2,369,376 $2,262,252 $2,261,965
Other Expenditures $51,008,200 $51,099,579 $53,182,328 $55,681,464 $56,651,508
Total External Expenditures $97,117,769 $70,431,502 $89,810,409 $80,031,379 $73,866,320
Internal Expenditures
Transfer to Reserve Funds
Capital Works Reserve $663,239 $683,767 $705,702 $725,606 $745,747
Equipment Replacement Reserve $1,585,196 $1,672,597 $1,768,902 $1,800,374 $1,833,705
Fire Dept. Capital Aquisition $728,467 $769,521 $813,393 $853,200 $893,483
Land Reserve $20,000 $20,000 $20,000 $20,000 $20,000
Local Improvement Reserve $0 $0 $0 $0 $0
Sanitary Sewer Reserve $80,000 $80,000 $80,000 $80,000 $80,000
Total Transfer to Reserve Funds $3,076,902 $3,225,885 $3,387,997 $3,479,180 $3,572,935
Contribution to Surplus $0 $0 $34,728 $0 $731,095
Contribution to Own Reserves $9,095,794 $3,909,900 $4,751,131 $5,320,450 $5,308,500
Total Internal Expenditures $12,172,696 $7, 135,785 $8,173,856 $8, 799,630 $9,612,530
CORPORATION OF THE DISTRICT OF MAPLE RIDGE
TO: Her Worship Mayor Kathy Morse DATE: May 11, 2004
and Members of Council FILE NO:
FROM: Chief Administrative Officer ATTN:
SUBJECT: 2004-2008 Amending Financial Plan Bylaw No. 6238 - 2004
EXECUTIVE SUMMARY:
In order to complete the execution of the Purchase and Sale Agreements of the Maple Ridge Town Centre
(i.e. Core Project), it is now necessary to amend the 2004 - 2008 Amending Financial Plan Bylaw
No. 6225 -Q04. The amended by-law presented for consideration and adoption provides for a transfer
of $300,000 t01e District's Subsidiary. These funds will be used to make $125,000 deposits each for the
Tower Project anthe Civic Centre Project and other related costs until all other financial arrangements
have been complete
RECOMMENDATION\
That the Maple Ridge Fin\ncial Plan Amending Bylaw No. 6238 - 2004 be read a first, second and
third time.
DISCUSSION:
Background Context: \ The District is currently authbized t make expenditures under the 2004 - 2008 Amending
Financial Plan Bylaw No.6225\ 20C L However, this plan did not make provision for any
acquisition of the Maple Ridge 1wr Centre as the nature of the agreement was unknown.
Section 174 of the Community charkr provides that a municipality cannot make an expenditure
that is not provided fir in it's financial lan. The changes to the financial plan reflect the need to
make deposits of $125,000 deposits eac or the Tower Project and the Civic Centre Project.
The Community Charter requires that the Dstrict provide notice and the opportunity for public
consultation on this amendment. Notice wk provided in the Times informing the public of
Council attending to this matter at the Council'orkshop, Committee of the Whole and a Special
Meeting of Council on May 17, 2004. The pulM,c will have the opportunity to speak on this
matter at the Committee of the Whole and on the Bget Hotline @ 604-467-7484.
Desired-Outcome: - \ - ---- - Adoption of the 2004 - 2008 Amending Financial Plan 'law No. 6238 - 2004 will enable the
Municipality to make the necessary transfer and deposits. \
Strategic Alignment:
Council wishes to advance the execution of the Purchase an\eA ents of the Maple
Ridge Town Centre and making the deposits is a step in that dir
Financial Plan/Business Plan Implications:
The amount required is provided from Accumulated Surplus an ect current taxation
or other fees; neither does this transaction impact any ot e or service level
previously approved.
*44.
733
Citizen/Customer Implications & Communications:
Under the current "Open Government" structure the public has continuous access to present
commentary and ask questions with regard to the changes proposed. An open invitation was
extended to the public to attend the Council Workshop and the Committee of the Whole. In this
way they are welcome to listen to the Council discussion and are able to provide feedback at the
Conmiittee of the Whole meeting. Feedback can also be provided using the telephone "budget
hotline."
Policy Implications:
None; all amendments are as per statutory requirement and necessary to provide for the
expenditure.
Alternatives:
In the event this bylaw is not adopted, the District is not authorized to advance funds to the
Subsidiary that will enable making the deposits; these are required for the execution of the
Purchase and Sale Agreements of the Maple Ridge Town Centre.
CONCLUSIONS:
Council, through appointed negotiators and staff, has been negotiating with the developer to acquire the
assets of the Maple Ridge Town Centre. In order to complete the execution of the Purchase and Sale
Agreements of the Maple Ridge Town Centre, it is now necessary to adopt the 2004 - 2008 Amending
Financial Plan Bylaw No. 6225 - 2004 provides for deposits of $300,000 to the District's Subsidiary.
These funds will be used to make $125,000 deposits each for the Tower Project and the Civic Centre
Project.
Prepared by: Trevor Thompson, BBA
Budget Officer
Reviewed & ConcurreaG.Sorba,CGA
Director of Finance
(.
Approved by: Piu~Gill, CGA
GM - Corp. & Financial Services
Concurrence: J. 1L. (Jim) Rule
Chief Administrative Officer
JGS/jgs /
CORPORATION OF THE DISTRICT OF MAPLE R[DGE
BY-LAW NO. 6238-2004
A By-law respecting the 5-year Financial Plan for the years 2004 through 2008
WHEREAS pursuant to Section 165 of the Community Charter, Council for the District of Maple Ridge
has caused to be prepared a Financial Plan for the years 2004-2008;
AND WHEREAS a public consultation process regarding the Financial Plan was undertaken by the
District of Maple Ridge;
NOW, THEREFORE, Council for the District of Maple Ridge in open meeting assembled, ENACTS
AS FOLLOWS:
This By-law may be cited for all purposes as "Maple Ridge Financial Plan By-law No. 623 8-
2004."
Statement 1 attached hereto and made part of this by-law is hereby declared to be the Financial
Plan of the Corporation of the District of Maple Ridge for the years 2004 through 2008.
READ a first time this
READ a second time this
READ a third time this.
RECONSIDERED and adopted the
CLERK
Attachments: Statement 1
IM
Attachement to Financial Plan Bylaw 6238 - 2004
Statement 1
Consolidated Financial Plan 2004-2008
2004 2005 2006 2007 2008
REVENUES
External Revenues
Property Taxes $34,462,300 $36,655,186 $38,971,176 $41,056,549 $43,007,158
Parcel Charges $1,818,045 $1,858,820 $1,900,543 $1,935,734 $1,971,491
Fees & Charges $19,039,004 $19,552,881 $20,164,369 $20,860,832 $20,923,561
Interest $1,735,000 $1,725,000 $1,725,000 $1,725,000 $1 725,000
Grants (Other Govts) $6,702,464 $2,685,579 $2,790,377 $2,247,197 $3,739,908
Property Sales $5,550,000 $0 $0 $0 SO
Development Fees
Developer Cost Charges $15,370,137 $4,450,819 $3,989,385 $4,352,591 $4,031,344
Developer Specified Projects $63,507 $0 $0 $15,750 $25,984
Parkland Acquisition $280,248 $200,000 $200,000 $200,000 $200,000
Development Fees Total $15,713,892 $4,650,819 $4,189,385 $4,568,341 $4,257,328
Total External Revenues $85,020,705 $67,128,285 $69,740,850 $72,393,653 $75,624,446
Internal Revenues
Borrowing Proceeds
Transfer from Reserve Funds
Land Reserve
Local Improvement Reserve
Equipment Replacement Reserve
Sanitary Sewer Reserve
Capital Works Reserve
Fire Department Capital Reserve
Transfer from Reserve Fund Total
Transfer from Own Reserves
Transfer from Surplus
Total Internal Revenues
$0 $0 $18,588,754 $1 0,743,877 $350,000
$858,342
$0
$1,513,648
$0
$4,847,609
$931,546
$8,151,145
$10,442,159
$0
$0
$1,967,750
$487,565
$499,000
$881,110
$3,835,425
$4,671,719
$0
$0
$1,633,364
$0
$2,309,500
$1,637,500
$5,580,364
$4,074,297
$0
So
$591,828
$0
$36,000
$250,000
$877,828
$4,606,541
$0
$o
$841,516
$0
$310,000
$1,750,000
$2,901,516
$4,602,888
Expenditures
External Expenditures
Capital Expenditures
Principal Payments on Debt
Interest Payments on Debt
Other Expenditures
Total External Expenditures
litfnlExpriditures -
Transfer to Reserve Funds
Capital Works Reserve
Equipment Replacement Reserve
Fire Dept. Capital Aquisition
Land Reserve
Local Improvement Reserve
Sanitary Sewer Reserve
Total Transfer to Reserve Funds
Contribution to Surplus
Contribution to Own Reserves
Total Internal ExQenditures
$41,589,998 $14,997,259 $14,680,987 $1 0,572,818 $14,286,115
$1,697,258 $1,597,224 $19,577,718 $11,514,845 $666,732
$2,822,313 $2,737,440 $2,369,376 $2,262,252 $2,261,965
$51,008,200 $51,099,579 $53,182,328 $55,681 464 $56,651,508
$97,117,769 $70,431,502 $89,810,409 $80,031,379 $73,866,320
$663,239 $683,767 $705,702 $725,606 $745,747
$1,585,196 $1,672,597 $1,768,902 $1,800,374 $1,833,705
$728,467 $769,521 $813,393 $853,200 $893,483
$20,000 $20,000 $20,000 $20,000 $20,000
$0 $0 $0 $0 $0
$80,000 $80,000 $80,000 $80,000 $80,000
$3,076,902 $3,225,885 $3,387,997 $3,479,180 $3,572,935
$0 $0 $34,728 $0 $731,095
$9,095,794 $3,909,900 $4,751,131 $5,320,450 $5,308,500
$12,172,696 $7,135,785 $8,173,856 $8, 799,630 $9,612,530
TOTAL