Finance and Audit Committee - July 21, 2021

Reports

The following recommendations will be going to Council for their consideration:

Live Fire Training Center Remediation
The committee recommended that Council add a Live Fire Training Facility Remediation project in the amount of $275,300 to the 2021 budget funded from the General Asset Management Reserve Fund.
Section 7 a

Funding Request for Commercial Street Revitalization Plan
The committee recommend that Council amend the 2021-2025 Financial Plan to add $150,000 in 2021 for a Commercial Street Revitalization Plan funded from Payment in Lieu of Taxes.
Section 7 b

Update on Welcome Pole at Sway'a'Lana/Maffeo Sutton Park and Request for Additional Funds
The committee recommended that Council:

a. Approve the proposed location of the pole at Sway’a’Lana/Maffeo Sutton Park as identified on Attachment “C” to the staff report.

b. Amend the 2021-2025 Financial Plan to include an additional $50,000 for the installation of the Welcome Pole funded from the Strategic Infrastructure Reserve.
Section 7 c

Community Program Development Grant - Nanaimo Climate Action Hub Society
The committee recommended that Council approve the request from the Nanaimo Climate Action Hub Society for a Community Program Development Grant in the amount of $3,000 to assist in funding the Community Climate Circles program. 
Section 7 d

Cancellation of Beban Ductless Split Heat Pumps
The committee informed Council of the cancellation of a 2021 project to install ductless split heat pumps to Rooms 4 to 6 at the Beban Social Centre.
Section 7 e

Nanaimo Operations Center - Phase 2 Environmental Assessment
The committee recommended that Council increase the budget for the Public Works Facility: Conceptual Design by $100,000 to undertake a Stage 2 environmental site investigation funded from Payments in Lieu of Taxes.
Section 7 f

Ending the B.C. Climate Action Revenue Incentive Program (CARIP)
The committee recommended that Council send a letter to Premier John Horgan, the Minister of Municipal Affairs, the Minister of Environment and Climate Change Strategy, and the Union of B.C. Municipalities outlining the value of the BC Climate Action Revenue Incentive Program (CARIP) and the implications of the program’s end.
Section 7 g

Sustainability and Emission Reduction Reserve Funds
The committee recommended that Council:

1. Direct staff to include in the 2022–2026 Draft Financial Plan for Council consideration a new funding strategy for the Emission Reduction Reserve based on an annual allocation of $165,000.

2. Direct staff to transfer the balance in the Sustainability Reserve Fund to the Emission Reduction Reserve Fund and return to Council with an updated Emission Reduction Reserve Fund Bylaw that includes supporting both energy and emission reduction projects and initiatives.
Section 7 h

July 21, 2021 Finance and Audit Committee Meeting – agenda, documents and video

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