AGENDA

FINANCE AND AUDIT COMMITTEE MEETING

Meeting #:
Date:	Wednesday, March 14, 2018 at 9:00 A.m. - 12:00 P.m.
Location:	SHAW AUDITORIUM, VANCOUVER ISLAND CONFERENCE CENTRE 80 COMMERCIAL STREET, NANAIMO, BC

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1.

CALL THE MEETING OF THE FINANCE AND AUDIT COMMITTEE TO ORDER:

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 Boardroom, Service and Resource Centre, 411 Dunsmuir Street, Nanaimo, BC, Wednesday, 2018-FEB-14 at 9:00 a.m.

5.

PRESENTATIONS:

6.

REPORTS:

a.

Downtown Revitalization Tax Exemption Program

To be introduce by Amrit Manhas, Economic Development Officer.

Purpose:  To provide information in support of the establishment of a Downtown Revitalization Tax Exemption Program.

Recommendation:  That the Finance and Audit Committee:

1. Recommend that Council provide approval to establish a Downtown Revitalization Tax Exemption Program;
2. Recommend that “Revitalization Tax Exemption Bylaw 2018 No 7261 (to create a new Downtown Revitalization Tax Exemption Program) pass three readings at a future Council meeting.

b.

2017 Budget Carry Forwards

To be introduce by Wendy Fulla, Manager, Business, Asset and Financial Planning.

Purpose:  To provide Council with a summary of the 2017 budgets carried forward to 2018.

Recommendation:  That the 2017 Budget Carryforwards report dated 2018-MAR-14 be received for information.

c.

Bowen Road Corridor Traffic Signal Coordination ICBC Road Improvement Program

Introduced by Bill Sims,  Director, Public Works and Engineering.

Purpose:  To obtain Council’s approval to include in the 2018 Financial Plan and implement a traffic signal coordination plan on Bowen Road/Comox Road between Highway 19A and Terminal Avenue with project funding from ICBC’s Road Improvement Program.

Recommendation:  That the Finance and Audit Committee recommend that Council direct Staff to allocate $22,000 of ICBC’s Road Improvement Funding to the Bowen Road Traffic Signal Coordination plan.

d.

College Drive Watermain Upgrade Contingency

To be introduced by Bill Sims, Director, Engineering and Public works.

Purpose:  To obtain Council approval for a budget increase in order to proceed with the construction of the College Watermain Upgrade project.

Recommendation:  The Finance and Audit Committee recommend that Council direct Staff to allocate $210,000 from water reserves for the construction of the College Drive Watermain Upgrade project.

e.

Tender #2086 Harbour Front Parkade Sprinkler Replacement

To be introduced by Karen Fry, Fire Chief and Director of Public Safety.

Purpose:  To advise the Finance and Audit Committee the results of the Request for Tender #2086 – Harbourfront Parkade Sprinkler Replacement and to obtain additional funding.

Recommendation:  That the Finance and Audit Committee recommend that Council approve additional funding of $50,821.26 to complete the Harbourfront Sprinkler replacement from the General Parking Reserves.

f.

Response to Health, Social and Safety Issues in the Downtown

Note: Report to be distributed on the Addendum.

7.

OTHER BUSINESS:

8.

QUESTION PERIOD:

9.

ADJOURNMENT: