Dear Editor:
RE: Editorial: North Van Currency Exchange Ban Sends A Bad Message
This letter seeks to explain why as elected representatives we felt it was necessary to take action to encourage vibrancy at the street level by managing the proliferation of money services businesses (MSBs), which include currency exchanges, in the City of North Vancouver. In recent years the number of currency exchanges has grown significantly from about half-a-dozen to more than two dozen. Banks and financial institutions, whose terms are defined in the Canada Bank Act, and Canada Post offices or outlets, are not considered MSBs.
There are precedents for managing vibrancy at street level. The city’s strategic plan 2022-2026 has a goal of creating “a vibrant city” with “dynamic public spaces and places.” Since 2016 the city has implemented regulations to help encourage vibrancy at street level through retail service group 1A zoning. This applies to some projects and restricts banks, finance offices, business offices, and professional offices from locating at ground level. The city also has policies restricting the location and number of retail liquor and cannabis stores.
Recommendations for regulating MSBs were developed over a period of months by city staff, as requested by council following a motion presented by Coun. Shervin Shahriari. The approach we took was in support of the “great street” project that will plan for the future of Central Lonsdale and will include consultation with existing businesses and residents. This study will involve an estimated 18-month process that will assist council in determining future zoning and other changes that are best for Lonsdale. In the interim, we felt it was important to manage the location of MSBs relative to other businesses in the area and throughout our small city.
We feel the approach taken is a reasonable compromise. It does not prevent existing MSBs, where they are located, from continuing to serve their customers. New MSBs can be established at other than ground level. In our opinion, the approach taken is consistent with the city’s strategic plan and existing regional and city-based policy that seeks to maintain strong pedestrian-oriented streets that create vibrant walkable streetscapes throughout our city. We believe this approach is a timely measure that addresses community feedback, and one that supports prosperity for local businesses.
Couns. Don Bell, Shervin Shahriari and Tony Valente
City of North Vancouver
