Finance and Audit Committee - June 17, 2020

The following recommendations were made by the Finance and Audit Committee and will be going to Council for final approval:

Fire Station No. 1
The Fire Station No. 1 project will be going ahead, with a budget increase of $3M (up to $1.5 million from the Asset Management Reserve and up to $1.5 million from the General Capital Reserve).

Supporting Arts & Culture: Implementation of Nanaimo Art Gallery Phased Development Plan
Funding for the Nanaimo Art Gallery’s phased development plan was approved, and will be included in the 2021-2025 budget considerations. This includes:

  • $50,000 per year in additional operating funding
  • $10,000 per year for capital expenditures at the Arts Centre at 150 Commercial Street
  • An amendment of the 2014-2023 Co-Management Agreement with an execution date after the Provisional 2021-2025 Financial Plan has been adopted by Council
  • $25,000 in the 2021 budget for the development of a feasibility report on the concept of an Arts Centre and Nanaimo Art Gallery’s Phase 3 facility project

Community Program Development Grants
The Nanaimo Science and Sustainability Society (NS3) will be awarded a $1,000 grant to assist in funding The Great Pumpkin Toss event for children and families. The Salish Storm Hockey Association will be awarded a $10,000 grant for a low-barrier Intro to Hockey Program for Indigenous Children.

Province of BC Local Government Infrastructure Planning Grant Program
An application will be submitted to the Local Government Infrastructure Planning Grant program for $10,000 for the Water Supply Strategic Plan project.

Tax Exemption Application and PTE Cash Grant Funding
The Clay Tree Society at 838 Old Victoria Road will be awarded a Permissive Tax Exemption for the 2021 tax year and a PTE cash grant in the amount of $5,000 for their 2020 property taxes for their newly purchased property at 838 Old Victoria Road.

June 17, 2020 Finance and Audit Committee Meeting

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