Tt meget tome re megs AE penn TR Ne ot

day.

In a notice of motion to
council, Clark recently pro-
posed the district study the
possibility of creating a
heritage fund to provide
money for the district’s
future capital needs.

‘“TIt is much on the same
lines as in Alberta,’’ said
Ciark, ‘“‘where they have the
heritage of their oil reserves.
They. have put aside some-
thing for the future.

“The, parallel with the
district is we have a fand
bank. It is an ongoing source
of capital. funding, but we
need money as well as
land,” Clark continued,

“In Seymour, the district -

has the largest tract of land’
to develop close to.:Van-.

couver.. There are 970. hec-.

tares available . for develop-
ments. <-

Clark stiggests | ‘the district
should put aside a, gradually
increasing percentage: of cap-

ital generated: from; Jand-.flo 0...
‘sales:. To‘ his knowledge ; ‘the.

idea ® hasn’t":-been’ : broached :;
while he ‘has: ‘been. on coun- |

cil.

Clark said he was
prompted to call for the
study by the high cost of
snow and ice removal during
the recent cold snap.

The district was put in the
position of drawing $200,000

from its operating reserve to.

cover the budget overrun.
The district’s total operating
reserve is only $800, 000. |

Craig

SAVING FOR A RAINY DAY

District talks heritage fund |

NORTH. VANCOUVER District Ald.
Clark wants to put something away for a rainy

“This shows just how
small that buffer is,** Clark
said. ‘‘The district is land
tich but, frankly, dollar
poor."’

A heritage fund would
provide the district with a
land resource and liquid cap-
ital that could be drawn on
temporarily if needed.

But its main purpose is for
the long term, said Clark.

While the district's in-
frastructure -— roads, sewer
and water supply systems —
are in good shape now,
many eastern Canadian
municipalities have neglected

"Bradbrooke, Crawford 18 Green

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their roads and
Clark said, so now they are
in critical condition. But the
municipalities don’ t have the

sewers,

5 - Wednesday, December 26,1985 - North Shore News,

capital to replace them.
District council will con-

sider Clark’s notice of mo-

tion at its Jan. 6 meeting.

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