AGENDA
FINANCE AND AUDIT COMMITTEE MEETING

Wednesday, March 18, 2026

9:00 A.m. - 12:00 P.m.

Shaw Auditorium, Vancouver Island Conference Centre

80 Commercial Street, Nanaimo, BC

SCHEDULED RECESS AT 10:30 A.M.

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1.

CALL THE MEETING TO ORDER:

[Note:  This meeting will be live streamed and video recorded for the public.]

2.

INTRODUCTION OF LATE ITEMS:

3.

ADOPTION OF AGENDA:

4.

ADOPTION OF MINUTES:

a.

Minutes

Minutes of the Finance and Audit Committee Meeting held in the Shaw Auditorium, Vancouver Island Conference Centre, 80 Commercial Street, Nanaimo, BC, on Wednesday, 2026-FEB-18, at 9:00 a.m.

5.

PRESENTATIONS:

6.

DELEGATIONS:

7.

REPORTS:

a.

Consideration of Deferred Item "Council Spending and Amenities Policy Update" 

At the 2026-FEB-18 Finance and Audit Committee Meeting, discussion regarding the "Council Spending and Amenities Policy Update" was deferred to a future meeting.

[Note:  The staff report dated 2026-FEB-18 is attached for reference.]

b.

Development Cost Charge Reduction Bylaw

To be introduced by Laura Mercer, General Manager, Corporate Services. 

Purpose:  The purpose of this report is to present the proposed eligibility criteria for a Development Cost Charge (DCC) Reduction Bylaw and to outline the potential financial impacts to the City’s Financial Plan.

Recommendation:  That the Finance and Audit Committee recommend that Council direct Staff to proceed with a Development Cost Charge (DCC) Reduction Bylaw, with a 50% DCC reduction for not-for-profit rental and supportive housing, and with eligibility criteria as proposed in the Staff Report titled "Development Cost Charge Reduction Bylaw", dated 2026-MAR-18.

c.

Heritage Façade Grant - 426 Fitzwilliam Street

To be introduced by Jeremy Holm, Director, Planning and Development.

Purpose:  To present for the Finance and Audit Committee’s consideration a Heritage Façade Grant application (to replace and paint the wood siding, replace the awning, and replace the lighting on the exterior) for the Angell’s Trading building at 426 Fitzwilliam Street.

Recommendation:  That the Finance and Audit Committee recommend that Council approve a $20,000 Heritage Façade Grant to replace and paint the exterior wood siding; replace the awning; and replace the lighting for the Angell's Trading building at 426 Fitzwilliam Street.

d.

2025 Budget Carryforwards

To be introduced by Laura Mercer, General Manager, Corporate Services. 

Purpose:  To provide the Finance and Audit Committee with a summary of the 2025 budgets carried forward to 2026.

e.

2025 Surplus Allocation

To be introduced by Laura Mercer, General Manager, Corporate Services. 

Purpose:  To provide the Finance and Audit Committee with information pertaining to the recommended allocation of the 2025 operating surplus.

Recommendation:  That the Finance and Audit Committee recommend that Council:

1. Approve the allocation of the 2025 operating surplus as follows:

A. General Fund

1. 1. Special Initiatives Reserve    5,475,135
   2. RCMP Contract Reserve    4,015,860
   3. Property Acquisition Reserve   1,700,000
   4. Snow and Ice Control Reserve    257,000
       Total    $ 11,447,995

B. Sewer Fund     

1. 1. Sewer Reserve   $ 340,938

C.    Water Fund

1. 1. Water Reserve   $ 1,592,953

2.    Amend the 2026 – 2030 Financial Plan to include the following:

1. A $149,900 grant to the Children’s Health Foundation of Vancouver Island in 2026 to support the Home Away from Home project, funded from the Special Initiatives Reserve.
2. An ongoing annual allocation of $250,000 for all five years of the Financial Plan to support DCC Waivers and Reductions provided for non-market (affordable) housing units, with the 2026 amount funded from the Special Initiatives Reserve.

f.

Kal's Replay Fund 2026 Intake

To be introduced by Laura Mercer, General Manager, Corporate Services.

Purpose:  To advise the Finance and Audit Committee and Council that the City has submitted a grant application to the Kal’s Replay Fund for up to $20,000 for the Barney Moriez Park Improvements project.

g.

Changes to Provincial Home Owner Grant Program

To be introduced by Laura Mercer, General Manager, Corporate Services. 

Purpose:  To present information on the changes to the Provincial Home Owner Grant program effective 2027-JAN-01.

h.

Partners in Parks Policy - COU-252

To be introduced by Lisa Bhopalsingh, General Manager, Community Services/Deputy Chief Administrative Officer.

Purpose:  To present Council with the City of Nanaimo Partners in Parks Policy for approval.

Recommendation:  That the Finance and Audit Committee recommend that Council approve the City of Nanaimo Partners in Parks Policy COU-252, as outlined in the Staff Report titled "Partners in Parks Policy - COU-252", dated 2026-MAR-18.

8.

OTHER BUSINESS:

9.

QUESTION PERIOD:

10.

PROCEDURAL MOTION:

That the meeting be closed to the public in order to deal with agenda items under the Community Charter:

Section 90(1) A part of a meeting may be closed to the public if the subject matter being considered relates to or is one or more of the following:

(k) negotiations and related discussions respecting the proposed provision of a municipal service that are at their preliminary stages and that, in the view of the council, could reasonably be expected to harm the interests of the municipality if they were held in public; and,
(n) the consideration of whether a council meeting should be closed under a provision of this subsection or subsection (2).

11.

ADJOURNMENT: