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Aerial view of Vernon (photo credit/City of Vernon)
Lots of possible projects

Vernon council legacy fund debate to be continued

Apr 21, 2021 | 2:32 PM

How to spend nearly $13 million from the Fortis B.C. Legacy Reserve Fund, remains undecided following a three hour special council meeting Tuesday, April 20.

Two other issues chewed up half of the meeting; what to do with the RV sani-station, and closing two blocks of 30th Avenue from mid-May to Labour Day, so restaurants could use the space.

Vernon Mayor Victor Cumming clarified at the meeting that the fund was not a gift from Fortis B.C., but revenue from a business arrangement between Fortis and the city.

“The Fortis B.C. Legacy Fund includes amounts accumulated over time representing the annual excess lease revenue paid to the city over the debt servicing costs, plus the one-time payment made in November 2019 of $12,239,286,” director of Financial Services Debra Law reported to council.

Nearly $2.5 million has been expended from the reserve for items ranging from Hurlburt Park phase one to partially funding the Pickle Ball enclosure at Marshall fields.

The current fund sits at $12,827,101.

Staff prepared a potential list of projects and ball park price tags including:

  • creating a park on the Kin Race Track lands 5,000,000+
  • rebuilding Polson Park 5,000,000+
  • implementation of the remaining Parks Master Plan capital projects $6,000,000+
  • enhancement of the Lakeview Peanut Pool (if grant unsuccessful) $2,600,000
  • partial funding of the Active Living Centre
  • land purchase for parks and trails in any amount
  • land purchase for affordable housing projects $1,000,000+
  • convert 30th Avenue to a flex street to easily permit conversion to a pedestrian only street on demand $6,000,000
  • renovate the Vernon RCMP building $5,000,000+
  • rework the city hall block to make improvements and additional RCMP space $3,000,000+
  • vehicle fleet replacement items $1,170,000
  • a fireboat program for Okanagan Lake $1,400,000
  • fund transit reserve for future expansion opportunities $5,000,000
  • install bus shelters city wide $1,500,000
  • upgrade multi-use pathways and trails and connections $10,000,00
  • separated bike and pedestrian trails on Old Kamloops and Commonage Roads $10,000,000

While council didn’t make it to the list of projects, they did go through an exercise to determine what guiding principals should be agreed upon for selecting legacy items.

Those final four distilled from individual council member’s priorities include; that projects have short and long-term benefits, projects benefit all citizens and support youth and families.

Another meeting will be held at an unspecified date to continue the legacy fund discussion.

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