For City of Langley Regular Council meeting of February 26, 2024.
Please note these are not the official minutes, but rather, highlights of items approved by Council and do not reflect all items considered by Council at the meeting. Council Meeting agenda is available here: https://langleycity.ca/cityhall/city-council/council-meetings. For more information, please contact kkenney@langleycity.ca or pkusack@langleycity.ca
Approval of Development Permit No. 05-23
Council approved Development Permit No. 05-23 authorizing the development of a 2-building, 9,681 m2 industrial development located at 5721 Production Way.
Bylaw 3216 - Zoning Amendment No 189 and Development Permit No. DP 05-22
Council gave final reading to Zoning Bylaw Amendment No. 3216” which rezones the properties located at 20121, 20131, 20141, 20151, 20161, 20171 – 53 Avenue from RS1 Single Family Residential zone to the CD85 Comprehensive Development Zone and approved Development Permit No. DP 05-22 authorizing the development of a 5-storey, 93-unit rental apartment development at the subject properties.
Motion - Allocation of Year End Surplus
Council passed the following motion:
WHEREAS we recognize that the City’s conservative fiscal planning is prudent with the aim of mitigating budgetary shortfalls while achieving specific goals and actions that support Council’s Strategic Plan;
AND WHEREAS respecting the impacts that conservative budget city estimates may cause incremental increases to property taxpayers which result with year-end surpluses that have in the past been fully allocated to the Capital Works Reserve to supplement future capital projects and works in future years;
AND WHEREAS this approach of conservative strategy does not adequately acknowledge the associated incremental and operational financial costs that are borne by the taxpayer as a result;
THEREFORE, BE IT RESOLVED THAT staff develop a year-end surplus allocation framework that considers taxpayer-borne costs associated with budgetary surpluses, continues to strategically allocate funding for specific infrastructure and other established priorities the Council has identified. (i.e. RCMP Reserve contribution, Capital Works Reserve contribution) while still upholding prudent financial planning practices;
AND THAT staff present this framework for Council to consider adopting to help guide financial planning.