Council sticks with status quo on Fortis money

The first of five options was to simply keep the money in the reserve fund. However, Option 2 set out the creation of an endowment.

Councillor Cori Ramsay put it forward a motion to create and endowment legacy with Council oversight over spending.

However, many on Council felt the use of the funds should be a decision of the next Council, with an election in October.

It was also noted that, in July 2014, a commitment was made from the Council of the day.

It reads:

“That Council SUPPORTS IN PRINCIPLE using a portion of the 2021 Legacy funding from the Terasen Gas Lease In Lease Out Agreement towards the City’s thirty percent share of the capital costs for a new performing arts centre, and DIRECTS administration to provide recommendations back to Council on committing those funds at such time as the other external funding from the Federal and Provincial governments and the private sector has been committed.”

The July 2014 report was hopeful that grant funding would become available in the next arts facilities, but those grant opportunities never materialized.

Ultimately Council with the status quo option, but some Councillors, like Kyle Sampson, the new felt the need to ensure that 2014 promise was kept.

by Cheryl Jahn

Council sticks with status quo on Fortis money

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