Port Moody Mayor Rob Vagramov is cautiously optimistic about a series of measures announced last Thursday by the provincial government to help municipalities get back on a solid financial footing during the COVID-19 pandemic.
Vagramov said he’s “excited” that the measures are just a “first step.” They include giving municipalities greater flexibility to carry debt, allowing them to borrow money interest-free from existing capital reserves to pay for current expenses, and delaying the remittance of school taxes until the end of the year.
But, Vagramov added, “municipalities need a lot more support from the province than what is currently being offered.”
He said city staff are reviewing the announcement by B.C.’s minister of municipal affairs, Selina Robinson, to see how the measures might benefit Port Moody.
Tuesday, council’s finance committee will get an opportunity to review a prioritized list compiled by staff of potential cuts to the city’s 2020 budget that could save taxpayers up to 1.5% of a previously recommended 3.62% property tax increase. A planned 1% levy to help replenish city assets could also be in play.
While the nature of any possible cuts won’t be known until Tuesday night’s meeting, city manager Tim Savoie said they would affect city services.
While several municipalities, like Coquitlam, Burnaby, Surrey and New Westminster, have already announced layoffs of auxiliary and regular staff, Port Moody has yet to unveil any plans for job cuts. Savoie said, however, some staff have had their duties modified or been reassigned.
