from the North Shore News, quoting in part:
A new report released by the City of North Vancouver’s finance department reveals that Port Metro Vancouver has almost halved its payments to the city on unleased port lands over the last decade. Also, any new improvements on leased lands will be depreciated and removed from the tax base in 10 years.
The staff report reveals the “tremendous tax advantage” port industries receive, Coun. Pam Bookham said at the May 27 city council meeting.
“The community is absorbing a lot of negative impacts,” she said, citing tree clearing and traffic jams resulting from the Low Level Road expansion project, “and the idea that there was some financial benefit that was going to come to the community . . . when it’s put to the test, assuming that this information is accurate, it’s pretty paltry and it’s going to be a very short-lived bump in our tax revenues from the port industries.”