Port Moody

The committee reviewed proposed updates to the Development Cost Charges (DCC) and the introduction of new Amenity Cost Charges (ACC) to fund city infrastructure and amenities, including a tentative engagement timeline. Additionally, the committee provided early input on a revised development proposal for 3102 St. George Street, which includes changes to unit counts, building setbacks, amenity spaces, and community benefits due to current economic conditions and construction costs.

The meeting includes a review of a recreation facilities study covering amenity recommendations for arenas, community centers, outdoor courts, sports fields, and indoor aquatics options, including capital and operating cost considerations. Additional topics feature updates on a mural project, youth week planning for a sports tournament, and a youth scholarship update.

The council meeting addressed several key agenda items, including an art presentation by a local ceramic artist, a four-year progress report and extension request from the Inlet Music Series delegation, and written public input regarding development cost charges and amenity cost charges. Additionally, the council reviewed a rezoning application for a mixed-use transit-oriented development project in Moody Centre, which included discussions on building design, unit sizes, and community contributions. An update on the Port Moody Arts and Business Initiative was also provided, focusing on structural, policy, and financial models for the city's creative ecosystem.

The committee discussed contract awards exceeding $200,000 for the period between February and March 2026. The meeting also addressed the 2026-2030 Five-Year Financial Plan update, incorporating revised revenues from BC Hydro grants and updated assessment data. Additionally, the committee reviewed a request for additional capital budget to fund archaeological assessments and lighting design for the Bedwell Bay Road Transportation Improvement project. Resolutions approved by the Finance Committee were referred to the Council Standing Committee for ratification.

The Finance Committee discussed the Pay Parking Reserve Guidelines, which aim to formalize the financial framework for the city's pay parking program. The guidelines include provisions for managing revenue, stabilizing operations through a reserve fund, and setting clear parameters for withdrawals, including capital and technology investments. The committee also addressed the allocation of surplus funds and established a target reserve balance to ensure long-term program stability.