To take weight off city taxpayers, the City of Victoria is going after $36.5 million in grants for capital projects, including $25 million for the Crystal Pool replacement.
Council has asked city staff to prepare funding applications for projects ranging from the pool replacement and a Centennial Square revamp to bike lanes.
“This is tens of millions of dollars that allows us to offer programs that probably otherwise couldn’t be offered and also reduces the cost to taxpayers in the city overall,” said Coun. Jeremy Caradonna.
Coun. Dave Thompson noted that many of the projects involve recreational facilities, which he says are vital as the city approves more housing downtown.
“A very large proportion of our anticipated housing growth is in downtown and nearby areas. Often the suites that we’re approving are smaller and without their own green space or recreational space.”
The largest funding application so far is for up to $25 million in federal money for the Crystal Pool replacement, which is estimated to cost between $209 million and $216 million.
If approved, the funding would come from the Green and Inclusive Community Buildings program designed to improve the condition of buildings in communities experiencing higher needs.
The fund targets construction of new, publicly accessible community spaces that foster inclusion, combat systemic inequities, reduce carbon emissions, and demonstrate best practices in building design for climate-change resilience.
Residents will vote in a referendum, expected in February, to determine if the city should borrow $168.9 million to build the new pool, and which of two sites in Central Park they would prefer.
The borrowing amount is lower than the estimated total price tag, as the city intends to use reserve funds to reduce the borrowing cost.
City staff are also applying for up to $5 million in funding from the Union of B.C. Municipalities, which is offering grants for small-scale structural projects that help reduce risks from future disasters due to natural hazards and climate change.
The money would be used for the $11.2-million Centennial Square revitalization project, which includes water features, trees, shade umbrellas and stormwater management.
The city has already secured $4.5 million in provincial funding for the Centennial Square project through a grant from the Growing Communities Fund.
Other grant applications include asking for up to $2.5 million from the Federation of Canadian Municipalities’ Growing Canada’s Community Canopies initiative for targeting tree planting in the downtown; up to $1 million from the province for active transportation projects on Cook Street and Blanshard Street; as well as up to $3 million from the province’s Disaster Reduction Innovation fund to move forward three projects that address the effects of seismic activity, and climate adaptation.
Coun. Krista Loughton said she is also in favour of the city exploring naming-rights programs for some of its larger projects to further reduce the cost to taxpayers.
