The City of North Vancouver has cleared the electoral hurdle required to borrow $55.7 million for the rebuild of North Shore Neighbourhood House and the completion of two city parks.
An “alternative approval process,” which works something like a reverse referendum is required by the province before municipalities are allowed take out large capital loans. If enough residents file a form with the city registering their opposition within a stipulated time period, either a referendum on the loan is required or council must pause the project.
As of the 5 p.m. deadline on April 22, a total of 573 electors, or 1.35 per cent of the eligible voter base, submitted forms opposing the loan bylaw – well short of the 4,233 or 10 per cent required.
The alternative approval process drew criticisms from some residents that future taxpayers would be unable to afford the tax increases required to service that debt, that residents had not been adequately informed about the AAP, and that the bar was simply too high for electors to stop the loan.
Council announced plans in January to fast-track the rebuilding of the 1967 North Shore Neighbourhood House building, which is reaching the end of its life, and partner with non-profit developer Catalyst Community Housing to build up to 180 affordable housing units on top. Catalyst will be responsible for finding its own financing for the affordable housing.
No one from North Shore Neighbourhood House responded to a request for comment on the APP passing,
From the $55.7-million loan, $4.3 million will go to finishing the total revamp of Kings Mill Walk Park to include a plaza, an all-ages play area, an off-leash dog park, open green space and shoreline habitat restoration. And $1.8 million in borrowed cash is earmarked for a new “Oasis of Calm” urban park on the 1600-block of Eastern Avenue, one of the city’s densest areas with the least access to park space.
The AAP results will come back to council one more time on May 6 for final approval before the city submits its application to the Municipal Finance Authority.
