New Westminster is reallocating funding for future projects toward the multi-use civic centre.
When the city agreed to allow a destination casino to open in the city, it negotiated a financial package known as development assistance compensation (DAC). The funding agree-ments provide up to $60.5 million for five projects: Queensborough parkland improvements - $5 million; a multi-use civic facility - $35 million; Queensborough Community Centre expansion - $6.2 million; a Queensborough pedestrian crossing - $10.3 million; and Fraser River dock improvements - $4 million.
The park improvements in Queensborough are complete, and the civic centre and Queensborough community centre projects are in the works, but the Queensborough pedestrian crossing and dock improvements haven't yet begun.
According to a staff report presented to council Monday, council has agreed to reallocate $8 million from the Queensborough pedestrian crossing and dock improvements toward the multi-use civic centre project.
"Council was able to get some flexibility from the province to reallocate some of those funds," said city administrator Paul Daminato. "They haven't decided at this stage in the game the exact amount that will come from each project. That's something that they'll tackle in the future. The focus right now is on this (civic centre) project."
Daminato said the province has allowed the city some flexibility in regards to completion dates and the allocation of the funding for the civic centre.
Coun. Jonathan Cote said council has not made a decision about the two remaining DAC projects. He said there would still be some funding left over, even after $8 million is redirected to the civic centre project.
Cote said it remains to be seen whether one of those projects gets reduced in scope or a more economical way is found to complete the crossing from the water-front to Queensborough.
"Certainly the city is still very interested in those projects, but given the challenges we face with this facility we are looking for flexibility," he said. "No decision has been made on those. If this turns out to be positive, and the city is able to find a partner and a good deal, then the city might be in a better financial position to take on those projects."
Details about the reallocation of the development assistance compensation funding were included in a staff report about the city's decision to proceed with an office development at the multi-use civic facility.
