The Editor,
Re. “BQ to get rec centre,” (The Tri-City News, March 16).
I’m a little nervous about the announced partnership between the city of Coquitlam, YMCA and Concert Properties for the provision of recreation facilities in the Burquitlam neighbourhood.
While the project does sound like a win-win-win, as a taxpayer in this community, I am worried that it is being built on a shaky financial foundation.
The Tri-City News article states the city will fund its share of the capital cost of the project through community amenity contributions (CAC) from developers in the Burquitlam area. The city expects these contributions to total $25 million over the next 20 years or so.
Use of CAC raises two concerns. One is cash flow. Where will the money come from in the interim to fund the city’s obligations under the partnership agreement? The other, which is more concerning to me as a taxpayer, is financial risk.
The B.C. Ministry of Community, Sport and Cultural Services has an informative publication on CAC available for view online. The guide is clear that municipal governments do not have the legal authority to impose CAC.
I’ve read the relevant council reports available on the city’s website and none of them mention legalities or the risk involved with this type of funding. I rue the day that a disgruntled developer successfully challenges Coquitlam’s CAC policy in court, leaving the taxpayers of Coquitlam to pay the bill.
Mike Carver, Coquitlam
