For Immediate Release
Langley City, BC – The City of Langley has published its draft 2020-2024 Financial Plan, and Langley City Council would like to hear from citizens and take their views into consideration.
Draft 2020-2024 Financial Plan Priorities
Langley City Council adopted Langley City: Nexus of Community, a new long-term vision for our community that will help us capitalize on SkyTrain. To make the Nexus of Community Plan a reality, the City plans to invest up to $50 million in four important community-building initiatives that include:
- $31 million in strategic land acquisitions
- $3 million in parks and trails improvements
- $6 million in Downtown Langley infrastructure upgrades
- $10 million in City and recreation facilities expansions and enhancements
The 2020–2024 Financial Plan anticipates borrowing $10 million per year over the next five years to fund the investments. Each investment will be repaid over a 15 year period through modest annual property tax increases (less than 3% per year in the first five years). The net taxation increase, therefore, is $1,949,070 or 6.67% to balance the budget. Including utility rate increases, the impact on an average single family home (assessed at $858,799) would be an increase of 5.65% or $179 and an average multi-family home (assessed at $401,664) would see an increase of 5.52% or $86.
Learn about the draft 2020-2024 Financial Plan
- If you missed the live 2020 Financial Plan presentation, you can still watch the January 27 Regular Council Meeting now.
- Online at langleycity.ca: Learn about the Financial Plan and download the following documents for more information:
How to Get Involved
Langley City residents are invited to provide their feedback on the proposed Financial Plan. There are a variety of ways people learn about the overall budget and Financial Plan process and give feedback on the priorities:
- In-person at the Financial Plan Open House on Thursday, February 6 from 6:00 pm - 8:00 pm in the Finance Department Foyer (main floor) at Langley City Hall.
- Online: Submit your comments to Langley City by emailing email@example.com
- On social media: Learn more about the budget process on Facebook, Twitter, and Instagram.
- Attend the Committee of the Whole meeting at 7:00 pm on Monday, February 10, 2020, in the Council Chambers where a public presentation of the Financial Plan will be made. Following the presentation, there will be an opportunity for the public to share their views with City Council.
For more information about the draft 2020-2024 Financial Plan, please contact Darrin Leite, Director of Corporate Service at 604.514.2806 or firstname.lastname@example.org.
City of Langley