r5-development cost charge

8/14/2019 R5-Development Cost Charge

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ATTACHMENT B

THE CORPORATION OF THE TOWNSHIP OF LANGLEY

DEVELOPMENT COST CHARGE RESERVE FUND

EXPENDITURE BYLAW 2009 NO. 4739

EXPLANATORY NOTE

Bylaw No. 4739 provides for the 2009 Capital Expenditure Program from the DevelopmentCost Charge Reserve Fund as provided by the 2009 2013 Five Year Financial Plan. Theprojects are for road, stormwater, sewer, water services and for parkland acquisition anddevelopment.

The Roads, Water, Sewer, Stormwater, Parkland Acquisition and Park Development DCCReserves do not currently have sufficient funds to cover the expenditures included in the2009 2013 Five Year Financial Plan. However, these expenditures have been included inthe DCC Expenditure Bylaw in the event that enough DCC funds are received during the

year. Projects will only proceed when sufficient funds are available.Funds that become available in the Parkland Acquisition DCC Reserve, Water DCC Reserveand Stormwater DCC Reserve, and Roads DCC Reserve are first directed towards paymentof the annual debt.

Presently, there are estimated expenditures under the bylaw in the amount of $26,265,977for the Capital Carryforwards from prior years and $15,221,482 for the 2009 Current YearCapital for a total expenditure of $41,487,459.

Should any of the above-noted monies remain unexpended at the end of the project; theunexpended balance will be returned to the credit of the reserve fund.


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ATTACHMENT B

THE CORPORATION OF THE TOWNSHIP OF LANGLEY

DEVELOPMENT COST CHARGE RESERVE FUND

EXPENDITURE BYLAW 2009 NO. 4739

WHEREAS it is deemed expedient to expend monies set aside in the Development CostCharge Reserve Fund established pursuant to Bylaw 1980 No. 1946 and interest earnedthereon for the following purposes:

Capital CarryForward from

Prior Years

2009 CurrentYear Debt

Payments andCapital

Total DebtPayments and

Capital

Roads $8,168,438 $ 827,400 $8,995,838Stormwater 8,664,867 473,369 9,138,236Sewer 4,811,026 346,500 5,157,526Water 4,505,531 740,812 5,246,343Parkland 116,115 12,833,401 12,949,516

Total $26,265,977 $15,221,482 $41,487,459

NOW THEREFORE, the Municipal Council of The Corporation of the Township of Langley, InOpen Meeting Assembled, ENACTS AS FOLLOWS:

1. This bylaw shall be cited as Development Cost Charge Reserve Fund ExpenditureBylaw 2009 No. 4739.

2. There is hereby authorized to be expended from the monies set aside and any interestearned thereon pursuant to the Bylaw entitled Development Cost Charge Reserve FundBylaw 1980 No. 1946, a sum not exceeding Forty One Million Four Hundred EightySeven Thousand Four Hundred Fifty Nine Dollars ($41,487,459) for capital improvementsand debt repayment as aforementioned.

3. Should any of the above-mentioned funds remain unexpended, after the expenditureshereby authorized have been made, the unexpended balance shall be returned to thecredit of the said Reserve Fund.

READ A FIRST TIME the 06 day of April , 2009

READ A SECOND TIME the 06 day of April , 2009

READ A THIRD TIME the 06 day of April , 2009RECONSIDERED AND ADOPTED the day of , 2009

Mayor Township Clerk


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CORPORATE ADMINISTRATIONCAPITAL CAPITAL FUNDING

New General Federal/ DCC's Capital Equipment Land Water/

Requests Revenue Provincial Works Reserve Reserve Sewer/Storm YGrants Surplu

T COMPUTER CAPITAL 900,000 593,000

T PROJECT - ERP 500,000

GENERAL LAND ACQUISITION 15,000,000 15,000,000

ADM CORPORATE ADM MISC 55,000 55,000

PAVE GRASSY RUNWAY 870,205 580,135

GENERAL CAPITAL CONTINGENCY 125,000

SITE REMEDIATIONS 200,000

GENERAL REVENUE CAP ADJ. 317 317

TOTAL CORPORATE ADMINISTRATION 17,650,522 648,317 580,135 - - - 15,000,000

OTHER:1) Capital Surplus; (2) Landfill; (3) MFA; (4) Non-Refundable Deposits; (5) Langley City; (6) ICBC; (7) LIP Reserve; (8) Translink; (9) Other

Township of Langley2009 Capital Projects - New Requests


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FINANCECAPITAL CAPITAL FUNDING


Requests Revenue Provincial Works Reserve Reserve Sewer/StormGrants

OFFICE FURNITURE/EQUIPMENT 5,000 5,000UNIDENTIFIED EXTERNAL FUNDED PROJ. 1,000,000UNIDENTIFIED SPECIAL PROJECTS 500,000

TOTAL FINANCE 1,505,000 5,000 - - - - -




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COMMUNITY DEVELOPMENTCAPITAL CAPITAL FUNDING



MISCELLANEOUS 5,000 5,000

TOTAL COMMUNITY DEVELOPMENT 5,000 5,000 - - - - -




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FIRECAPITAL CAPITAL FUNDING



TRAINING GROUND EXPANSION 20,000 20,000TURNOUT GEAR 50,000 50,000VEHICLE REPLACEMENT 110,000 110,000COMMUNICATION EQUIPMENT 16,400 16,400FIREFIGHTING EQUIPMENT 56,300 56,300PREVENTION EQUIPMENT 10,000 10,000TRAINING EQUIPMENT 27,000 27,000

TOTAL FIRE 289,700 57,000 - - - 232,700 -




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POLICECAPITAL CAPITAL FUNDING

New General Federal/ DCC's Capital Equipment Land Water


GENERAL DUTY RENOVATION 165,000 107,250NON SHARED FURN. & EQUIPMENT 27,750 27,750

TOTAL POLICE 192,750 135,000 - - - - -




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RECREATION AND CULTURECAPITAL CAPITAL FUNDING


Requests Revenue Provincial Works Reserve Reserve Sewer/Storm Ye

Grants Surplus

ACA - DEHUMIDIFIER 85,000 85,000 TAIRWAY LANDING TREATMENT 40,000

ALDERGROVE POOL (PARTNERSHIPFUNDING)

15,000,000

FUNDED CAPITAL PROJECT 7,505,000

TOTAL RECREATION AND CULTURE 22,630,000 85,000 - - - - -




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TRANSPORTATION UTILITY FUNDCAPITAL CAPITAL FUNDING

New Utility Federal/ DCC's Capital Equipment Land

Requests Revenue Provincial Works Reserve Reserve Sewer/Grants

riority Road Network:

ASSET & INFRASTRUCTURE MANAGEMENT SYSTEM 120,000 120,000

MAJOR ROAD REPAIRS SEVERAL LOCATIONS 225,000 225,000

AVING REPAIRS - TOWNSHIP LOCAL ROADS 170,000 170,000

AVEMENT MANAGEMENT SYSTEMS 143,000 143,000

AVING - 264 ST, 0 AVE TO HWY 13 200,000 200,000

AVING- 216 ST; 76 AVE TO 83 AVE 100,000 100,000

OUND ATTENUATION: FOREST GREEN 117,000 58,500GLOVER ROAD/MUFFORD CRESCENT OVERPASS PH III 47,516,925 38,000 3,100,000

NOW ICE CONTROL EQUIPMENT UPGRADE 250,000 250,000

RECONSTRUCT LANDSCAPE MEDIANS 45,000 45,000TRANSIT IMPROVEMENTS 50,000 25,000

COMMUTER CYCLING IMPROVEMENTS 70,000 38,500TRAFFIC SIGNALS: UNINTERRUPTIBLE POWER SUPPLY (UPS)BATTERY BACKUP SYSTEM

50,000 25,000

MISCELLANEOUS ROADS DCC PROJECTS 750,000 7,500 742,500

OPERATION CENTRE REPAIRS 41,000 41,000

CLIMATE PROTECTION COMMUNITY PLAN 25,000 25,000

DESIGN/CONSTRUCT BRIDGE REPLACEMENT (232 ST AT 68 AVE) 1,700,000

6 AVENUE & GLOUCESTER WAY 125,000

00 ST @ 82 AVE TRAFFIC SIGNAL 90,000

CLIMATE ACTION REVENUE (CARIP) 20,000 20,000

TELEGRAPH TRAIL 2,997,000 547,000 2,450,000

riority Equipment Network:

MALL EQUIPMENT REPLACEMENT 30,000 30,000

GARAGE - EQUIPMENT TOOLS REPLACEMENT 30,000 30,000

TANDEM AXLE DUMP TRUCK - REPLACE UNIT 144 173,000 173,000

TON DUMP TRUCK - REPLACE UNIT 147 62,000 62,000

ICK-UP TRUCKS - REPLACE EXTENDED & COMPACT PICK-UPS 200,000 200,000

UTILITY VAN - REPLACE UNIT 427 33,000 33,000

MINI VANS - REPLACE UNITS 433 AND 446 58,000 58,000



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TRANSPORTATION UTILITY FUNDCAPITAL CAPITAL FUNDING

New Utility Federal/ DCC's Capital Equipment Land

Requests Revenue Provincial Works Reserve Reserve Sewer/Grants


AUTOMOBILES - REPLACE UNITS 633 AND 635 80,000 80,000

ARKS TRACTOR - REPLACE UNIT 2607 50,000 50,000

BRUSHWACKER - REPLACE UNIT 1208 142,000 142,000

GARAGE WELDING TRUCK - REPLACE UNIT 216 AND 218 120,000 120,000

ANDERS - REPLACE UNITS 1520, 1521, 1522 40,000 40,000

GARAGE- EXISTING EQUIPMENT UPGRADES 50,000 50,000

ASPHALT ROLLER - REPLACE UNIT 1603 75,000 75,000

riority Equipment Network Cont'd.:

CARGO TRAILER - REPLACE UNIT 1734 8,500 8,500

TRAILERS - REPLACE UNIT 1729 20,000 20,000

RADIOS - UPGRADE 2-WAY EQUIPMENT 15,000 15,000

ORTABLE ASPHALT ROLLER - REPLACE UNIT 1622 7,500 7,500

UNIDENTIFIED EXTERNAL FUNDED PROJ. 1,000,000


TOTAL TRANSPORTATION FUND 56,999,341 1,511,916 3,667,000 742,500 - 1,194,000 2,450,000

OTHER:

1) Capital Surplus; (2) Landfill; (3) MFA; (4) Non-Refundable Deposits; (5) Langley City; (6) ICBC; (7) LIP Reserve; (8) Translink; (9) Other


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PARKS UTILITY FUNDCAPITAL CAPITAL FUNDING

New Utility Federal/ DCC's Capital Equipment Land Water/

Requests Revenue Provincial Works Reserve Reserve Sewer/Storm

Grants Surp

PDD - WCP - PICNIC SHELTER / FINISHES 155,000 55,000 100,000

PDD - SPIRIT SQUARE 125,000 125,000

NEIGHBOURHOOD INITIATIVE PROGRAM 50,000 50,000

PDD - MAP - GRANDSTAND SEATING 175,000 175,000

PDD - MAP - STADIUM PERIMETER FENCING 70,000 70,000

PDD - MAP- STADIUM SCOREBOARD 50,000 50,000

PDD - MOTORIZED VESSEL LAUNCH PLNG. 50,000 50,000

PDD - TRANS CDA TRAIL ON BEDFORD CHANNEL 80,000 80,000PDD - DEREK DOUBLEDAY SUSTAINABLEHORTICULTURE CENTRE PLANNING

60,000 60,000

PDD - WCP - PARKING DESIGN 60,000 60,000PDD - WCP - WBY FIELD 2 DESIGN 65,000 65,000

PDD - YORKSON PHASE I PLAYGROUND 45,000 45,000

PDD - WCP - SAND VOLLEYBALL COURTS 80,000

STREET TREE PLANTING NRD 50,000

PKS NRD STREET TREE PLANT STAFF 9,075

PKS DCC RELATED STAFFING 149,916 149,916

PARK LAND PROPERTY ACQUISITION 10,000,000 10,000,000

PDD - MAP TRACK SURFACE REPLACEMENT 650,000

UNIDENTIFIED EXTERNAL FUNDED PROJECT 1,000,000


TOTAL PARKS UTILITY 12,924,922 885,931 100,000 10,149,916 - - -

OTHER:

1) Capital Surplus; (2) Landfill; (3) MFA; (4) Non-Refundable Deposits; (5) Langley City; (6) ICBC; (7) LIP Reserve; (8) Translink; (9) Other

2009 Capital Projects - New RequestsTownship of Langley


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STORMWATER UTILITY FUNDCAPITAL



Grants S

MISC DRAINAGE REPAIRS 300,000 300,000

DRAINAGE IMPROVEMENTS: 16 AVE AT 272 ST 20,000 20,000

TORM SEWER UPGRADE: 72 AVE AT 208 ST 165,000 165,000

REPLACE BOULEVARD PIPE - 206 ST AT 24 AVE 275,000 275,000

UPSIZE BOX CULVERT: 56 AVE AT 230 ST 475,000 475,000

CULVERT 7300 BLOCK OF 256 ST 75,000 75,000

TREAM RESTORATION: HOWES CREEK 50,000 50,000

MISCELLANEOUS STORMWATER DCC PROJECTS 350,000 3,500 346,500


DYKING 400,000 400,000

YORKSON CREEK MONITORING 50,000 50,000


GENERAL REVENUE CAP ADJ. (379.00) (379.00)

TOTAL STORMWATER FUND 3,184,621 1,788,121 50,000 346,500 - - -




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WATER UTILITY FUNDCAPITAL



Grants Su

WATER MANAGEMENT IMPLEMENTATION PLAN 62,000 62,000

ALDERGROVE WTP - REPLACE PIPE 95,000 95,000ENERGY RECOVERY SYSTEM ALDERGROVE WATERTREATMENT PLANT

100,000 33,333 66,667

SCADA SYSTEMS UPGRADES 612,200 612,200

MISCELLANEOUS WATER DCC PROJECT 350,000 3,500 346,500


WATER LOCAL AREA SERVICE 500,000


TOTAL WATER FUND 2,744,200 831,033 66,667 346,500 - - -




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SEWER UTILITY FUNDCAPITAL



Grants

SEWAGE PUMP REPLACEMENT 100,000 100,000

POWER OUTAGE MITIGATION 130,000 130,000

SCADA SYSTEM UPGRADE 135,000 135,000

LOCAL AREA SERVICE PROGRAM 500,000

MISCELLANEOUS SANITARY SEWER DCC PROJ. 350,000 3,500 346,500

SANITARY ODOUR CONTROL 155,000 155,000

NFLOW & INFILTRATION INSPECTION/REDUCTION 155,000 155,000



GENERAL REVENUE CAP ADJ. (104) (104)

TOTAL SEWER FUND 2,549,896 703,396 - 346,500 - - -




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REPORT TO

MAYOR AND COUNCIL

PRESENTED: APRIL 6, 2009 - REGULAR MEETING REPORT: 09-43FROM: FINANCE DIVISION FILE: 1700-60

1840-30SUBJECT: 2009 2013 FIVE YEAR FINANCIAL PLAN BYLAW and

2009 DEVELOPMENT COST CHARGE RESERVE FUND EXPENDITURE BYLAW

RECOMMENDATION(S):

That Council give first, second and third reading to the Langley 2009 2013 Five Year FinancialPlan Bylaw 2009 No. 4738; and further

That Council give first, second and third reading to the Development Cost Charge ReserveFund Expenditure Bylaw 2009 No. 4739.

EXECUTIVE SUMMARY:

The Community Charter requires Council to adopt the Langley 2009 2013 Five Year FinancialPlan Bylaw before the Annual Tax Rates Bylaw and no later than May 14, 2009. The FiveYear Financial Plan Bylaw No. 4738 will establish the budget for revenues, expenditures, andtransfers for 2009 2013 for the Townships funds.

The 2009 operating budget includes non-discretionary adjustments for salary and wageincreases for staff, annualization of costs pertaining to 2008 new programs and/or services,contract commitments and minor inflationary adjustments for such items as natural gas andelectricity. The only service enhancement is the implementation of full time fire service atWalnut Grove Fire-hall.

The 2009 Township budget reflects a 5% property tax and levy rate increase for all funds exceptfor the Solidwaste (garbage collection) which is slightly higher to fund the increased newgarbage collection contract . The 2009 revenue increase was achieved through a reduction offunding to capital projects elimination of some vacant staff positions and other measures inorder to reduce the impact of the major cost drivers.

For 2009, the impact to a typical household with all services and with property assessed atapproximately $473,000 is an increase of $121 for the year or $10 per month. The totalmunicipal bill for this household receiving all services increases from $2,021 in 2008 to $2,142in 2009; and for a household not receiving water, sewer or garbage collection the municipal billincreases from $1,283 in 2008 to $1,347 in 2009. Fire, Police and Transportation account forthe majority of the tax increase.

In the table below, showing the 2009 property tax and levy increase allocation, universalservices are paid for by all taxpayers while user pay services are only paid for by those whosubscribe to the particular service.


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2009 2013 FIVE YEAR FINANCIAL PLAN BYLAW and2009 DEVELOPMENT COST CHARGE RESERVE FUND EXPENDITURE BYLAWPage 2 . . .

Universal Service Annual Increase Monthly IncreaseParks $ 4 $0.33Transportation (roads) $ 11 $0.92Stormwater $ 4 $0.33General Tax - Fire $ 25 $2.08General Tax - Police $ 26 $2.17General Tax - All Other $ (6) $(0.50)Total $ 64 $ 5.33

User Pay Service Annual Increase Monthly IncreaseWater $ 15 $1.25Sewer $ 15 $1.25Solidwaste (garbage collection $ 27 $2.25Total $ 57 $ 4.75

In accordance with the Community Charter disclosure requirements, the Langley 2009 2013Five Year Financial Plan Bylaw 2009 No. 4738 will also discloses the following information:

the proportions of revenue proposed to come from the various funding sources the distribution of property taxes among property classes; and the use of permissive tax exemptions.

In addition, Council must adopt a Development Cost Charge Reserve (DCC) Fund Bylawauthorizing the expenditure of funds from the DCC Reserve. Development Cost Charge

Reserve Fund Bylaw 2009 No. 4739 will authorize the expenditure of funds from theDevelopment Cost Charge Reserve for 2009 DCC capital projects as well as DCC capitalprojects in progress from prior years (carryforwards).

PURPOSE:

The purpose of this report is to bring forward the 2009 2013 Five Year Financial Plan and the2009 Development Cost Charge Expenditure Bylaws for the first three readings.


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DISCUSSION/ANALYSIS:

2009 2013 Five Year Financial Plan

The 2009 2013 Five Year Financial Plan was developed based on resolutions and informationfrom various discussions with Council and the Finance Committee. Council received the resultsof the public consultation on the 2009-2013 Financial Plan on April 3, 2009 and is scheduled tohear more input at the Council meeting on April 6, 2009.

The 2009 2013 Five Year Financial Plan includes property tax growth for 2009, from newconstruction, estimated at $2.06 million, one-time adjustments and operating carryforwardsrepresenting projects and programs in progress to be completed in 2009. A listing of the 2009Capital requests is attached as Attachment C.

Parks Utility is a new utility being proposed in 2009. The utility includes all park design,acquisition, maintenance and any other related activities such as trails, park amenities, andboulevard trees. Major funding is through property tax revenue based on property assessmentsas these are universal services. The establishment of the Parks Utility enables the Township tobetter communicate with taxpayers through isolating the cost of providing this service.

The 2009 Provisional Operating and Capital budget reflects non-discretionary expendituresidentified for 2009 based on ongoing contracts and implementation of a new fire hall asapproved by Council in 2008. Revenues are reflected based on a 5.0% property tax and levyincrease for 2009 plus funding from new construction projected at a growth rate of 2.0 % forproperty tax assessments and 3% growth factor for water, sewer and solid waste.

Major incremental cost drivers for the 2009 Budget include the following:

Amount

Salary, Wages, Benefits & other $ 3,589,000Firehall to full time service - salaries $ 1,376,000Other contract cost increases & utilities $ 1,414,000Policing contract increase $ 1,355,000Garbage collection contract increase $ 1,200,000Recycling contract increase $ 1,200,000Sewer Levy/Water purchase/Provision for debt $ 979,000Total $11,113,000

Property TaxationThe household impact of a 5% increase on property taxes & levies for a property assessed at$473,000 receiving all utility services is an additional $121 for the year of $10 per month. Thetotal municipal bill for a household receiving all services increases from $2,021 to $2,142 peryear or $179 per month. For a property not receiving water, sewer and garbage collectionservices the additional cost is $64 for the year or $5 per month and the total municipal billincreases from $1,283 to $1,347 per year or $112 per month.


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2009 Capital Program Requests

The 2009 Capital Budget also has significant budget pressures. The main cost driver for theCapital Budget is the escalation in the construction index in recent years. The construction indexhas increased 47% between 2002 and 2007 and was not expected to decrease to the previous

3% per year level until 2011. The impact on our capital program has been significant in that ourrevenue sources for capital have not increased at the same rate as the construction index. Thisis especially true for Development Cost Charge projects where the DCC rates increases havebeen significantly lower than the construction index increases. There are currently not enoughfunds in the DCC reserves to fund the committed DCC capital program; therefore some projectsare on hold until there are enough funds for the projects.

Capital Funding

Capital projects are only partially funded from General and Utility Funds revenues with themajority of the funding coming from sources such as reserves and surplus, development costcharges receipts, senior government grants, local area service funds and as a last resort fromdebt financing.

Debt financing is a viable method of funding long term capital projects which provide a benefit tocurrent and future taxpayers. This method ensures that all that will benefit will pay for theprojects over time. It is difficult to save for large infrastructure projects, therefore borrowingensures that required infrastructure is not unreasonably delayed and the annual payments aremanageable. The debt servicing, principal and interest, cost for $10 million borrowed for 20years is $940,000 per year.

The table below shows potential debt reflected in the 2009 to 2013 Five Year Financial Plan forvarious capital projects. The amounts for the years subsequent to 2009 and 2010 are potentialdebt which can be borrowed externally or internally and which will be decided upon in future

ars.ye Potential Debt in $000s

Carryforwardfrom 2008

2009 2010 2011 2012 2013

Transportation 4,763,367 7,568,925 - - - -Sewer 8,500,000 - - - - -Water 4,500,000 - - - - -Stormwater 7,001,000 - - - - -

Total Potential Debt 24,764,367 7,568,925 - - - -

The new Public Sector Accounting Board recommendations for accounting for tangible capitalassets now requires us to record all tangible assets on the balance sheets, amortize all tangibleassets and record the amortization expense on the income statement. The amortizationexpense is comparable to putting money aside in reserves for future capital renewal orreplacement. Staff are working on implementing these guidelines and will report to Councilwhen the work is completed.

New Community Charter requirements for Financial Planning

New financial planning requirements introduced for the 2008 Financial Plan will continue to bephased in over the next few years as Council and staff review current policies and practices.The disclosure requirements are as follows:


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The financial plan must set out the objectives and policies of the municipality for the planning period in relation to the following: (a) for each of the funding sources (property value taxes, parcel taxes, fees other

sources, and borrowing), the proportion of total revenue that is proposed to come from that funding source

(b) the distribution of property value taxes among the property classes that may be subject to the taxes

(c) the use of permissive tax exemptions

The data presented below, which will form part of the Langley 2009 2013 Five Year FinancialPlan Bylaw 2009 No. 4738, is based on past practices and discussion on changes to theseestablished allocations will follow in future budget sessions.

Proportion of total revenue

Revenue SourceOperating BudgetFunding Sources

Capital BudgetFunding Sources

Property taxes 35% 3%Utility Levies 16% 1%User fees and charges 25% 0%Other sources 24% 79%Proceeds from borrowing 0% 17%Total 100% 100%

The proportion of total revenue raised from each funding source in 2009 is presented in thetable above. Property taxes form the greatest proportion of the operating revenue for theTownship. Property taxes provide a stable and consistent source of revenue for many services

that are difficult or undesirable to fund on a user-pay basis. These include services such as fireprotection, policing services, transportation and so forth. For these reasons, property taxationwill continue to be the major source of the Townships revenue.

User fees and charges is the second largest portion of general operating revenue. ManyTownship services, such as water, sewer, and garbage collection are charged on a user-paybasis which ensures they are paid for by the taxpayers receiving these services.

Distribution of 2009 property taxes among the various property classes

PropertyClass Property Class Description

Property taxRevenue %

1 Residential 60.54%2 Utilities 1.22%

4 Major Industry 0.26%

5 Light Industry 6.88%

6 Business 29.97%

8 Recreation 0.39%

9 Farm 0.74%

Total 100.00%


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The distribution of property tax revenue among the various property classes is presented in thetable above. The practice of Council has been to set tax rates in order to maintain reasonabletax stability in compliance with the Community Charter. This is accomplished by maintaining theproportionate relationship provided above between the property classes. (Property classes aredefined and values determined by the British Columbia Assessment).

Use of Permissive Tax Exemptions The total revenue foregone for permissive exemptions granted for the 2009 taxation year isapproximately $185,000. These permissive exemptions support Council policy that grantspermissive exemptions only to those not-for-profit organizations that provide a valuable serviceto the community. The Townships permissive exemption policy and practice providespermissive exemption for bona fide community halls; community halls or facilities operated bycharitable and other not-for-profit organizations; religious institutions and private schools; andheritage properties.

Development Cost Charges Reserves and ExpendituresCouncil must adopt a Development Cost Charge Reserve (DCC) Fund Bylaw authorizing theexpenditure of funds from the DCC Reserve. Development Cost Charge Reserve Fund Bylaw2009 No. 4739 will authorize the expenditure of funds from the Development Cost ChargeReserve for 2009 DCC capital projects as well as DCC capital projects in progress from prioryears (carryforwards).

Respectfully submitted,

Hilary TsikayiDIRECTORforFINANCE DIVISION

ATTACHMENT A Langley 2009 2013 Five Year Financial Plan Bylaw 2009 No. 4738

ATTACHMENT B Development Cost Charge Reserve Fund ExpenditureBylaw 2009 No. 4739

ATTACHMENT C 2009 Capital Requests and Funding Sourcesand 2010 2013 Capital funding envelopes

r5-development cost charge

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