City seeks advice on density bonusing

City seeks advice on density bonusing.

The quote in the story:

Defenders of the existing policy, Mayor Darrell Mussatto, and Couns. Craig Keating and Linda Buchanan noted that the city has fared well, garnering many loved community assets, including the new city library, and a number of badly-needed non-profit housing projects by trading density for amenities.

Read more:

stating that the City Library was funded by “amenities” contradicts the statement on the City website.   The Library was funded by land sales and exchanges:

Project Financials
The Library, its expanded collection, and the adjoining Civic Plaza were fully funded through a series of successfully brokered City land exchange agreements. The proceeds from one agreement, valued at over $40 million, enabled the City to fund the development of the new library and adjoining plaza. Additional funding was also pursued and received from the Provincial Government.

  • Total Cost: $36,233,500
  • Library Construction: $27,810,000 (includes parkade/plaza/contingency)
  • Professional Fees: $3,550,000
  • Collection Development: $1,100,000
  • Furniture, Fittings, Equipment: $1,600,000
  • Other: $2,173,500
  • Additional Funding: $500,000 Spirit Square Provincial Grant for Civic Plaza, and $204,000 Canada-BC Municipal Rural Infrastructure Fund for 120 solar hot water rooftop panels

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