Council moves forward with City’s Capital Budget

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FORT ST. JOHN, B.C. – City Council is moving forward with the Capital Budget in principle.

On Monday, January 27th, 2020 Regular meeting, Council received the 2020 – 2024 Capital Budget as presented in principle with the 2020 budgeted capital expenditures being $63,243,000.

City staff were also given direction to proceed with the Peace River Agreement application submission.

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The following was reviewed by Council at the January 13th, 2020 Committee of the Whole meeting.

The staff of the city of Fort St. John share, there are $248.5 million in capital projects identified for the years 2020 through 2024.

These projects will be financed with;

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  • $154.2 million related to Peace River Agreement revenue
  • $68.5 million from the issuance of debt
  • $20.7 million from Utility reserves
  • $2.5 million from the Federal Gas Tax Grant
  • $1.9 million from a Provincial Conditional Grant
  • $0.7 million from Developer Cost Charges

For 2020, 80% of the capital projects are financed by;

  • Peace River Agreement revenue
  • Utility Reserves 13%
  • Provincial Conditional Grant 3%
  • Federal Gas Tax 3%
  • Developers Contributions 1%

Some of the Captial projects that will be worked on will be the new RCMP building, the Festival/Frostival Market, Cemetary upgrades and Surerus and Kin Park upgrades.

For a complete list of projects; CLICK HERE 

 

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