CRD approves consolidated $777M budget for services and projects
The Capital Regional District has approved its financial plan to spend $777 million for services and capital projects this year.
The CRD’s consolidated plan includes spending for the Capital Regional Hospital District and Capital Region Housing Corporation.
It calls for $431 million to pay for regional services to about 454,000 people while the consolidated capital portion allocates $346 million for a range of projects, including upgrades to the drinking water supply, new housing and a renewable natural gas initiative at the Hartland Landfill.
The consolidated requisition, or direct taxes applied to municipal property taxes and including the municipal debt that the CRD borrows on behalf of the municipalities, is rising by 5.8%. However, the CRD said due to the region’s growth, the average per-household tax increase across the region stands at 3.8%.
The impact of the financial plans and direct tax varies for each municipality, electoral area and First Nation as each has a different set of services.
The CRD said pressures such as inflation and interest-rate changes have a direct and significant impact on the budget.
The capital portion of the financial plan is paying for new and enhanced infrastructure, including:
• Sections of the Galloping Goose and Lochside regional trails will be upgraded in phases. It will include 5.3 kilometres of the Galloping Goose between the Selkirk Trestle and Grange Road (adjacent to McKenzie Avenue), and 1.3 km of the Lochside between the Switch Bridge and McKenzie Avenue/Borden Street.
• The Hartland Renewable Natural Gas Initiative will upgrade the biogas generated at Hartland Landfill to renewable natural gas for sale to Fortis BC. The project is expected to reduce the region’s greenhouse gas emissions by about 450,000 tonnes of carbon dioxide over the next 25 years.
• A partnership between the CRD, Island Health and the province will see a new long-term care home built in Colwood. It will bring 306 new care-home beds to the region, with construction expected to begin in 2025 and be complete in 2027. The care home will include a hospice unit and a specialized unit for younger adults who require long-term care.
• Replacement of the regional water supply ultraviolet system will continue in 2024. The existing UV disinfection infrastructure is reaching end-of–life status and requires replacement.
• The CRD will continue to invest in affordable housing with the Capital Region Housing Corporation and utilizing the Regional Housing First Program, in a partnership with B.C. Housing and the federal government. The CRD plans to replace 12 townhouses with 119 new units at a Campus View property in Saanich; replace 38 units at its Village on the Green property on Johnson Street with 140 new units; add 205 units at its new Pandora Avenue property in collaboration with the City of Victoria; and undergo a full building envelope remediation at its 22-unit townhouse complex Carey Lane in Saanich.