EFERENDUM [NFORMATION 996 Local Government Election aturday, November 16, 1996 is general voting day in British Columbia. District of North Vancouver electors will vote to elect six Councillors and four School Trustees, as well as to express their view on whether the District of North Vancouver should borrow funds of up to Twenty-six Million Dollars to fund various recreational and cultural projects in the District and whether several sites should be dedicated as Park. There will not be a mayoralty race as Don Beli was elected by acclamation. The following information is provided to assist voters in their consideration of the Questions. The Referendum Questions _ oT THE. DISTRICT.OF NORTH VANCOUVER The Comprehensive Loan Authorization question secks authority to borrow up to a maximum of $26 million, should it be necessary, to fund the following projects: 1. Parkgate Community Centre $8 million _ 2, Inter River Playing Fields $5.5 million 3. Lower Capilano Community Facilities $3 million 4, Karen Magnussen Sports Court $250,000 5. Ongoing Trail Development $250,000 6. Indoor Tennis Centre. $1.5 million 7. Heritage Services/Archives Buling $1.5 million 8.: ‘Lynn. Valley Main Li -ibraty $6 million Total $26 million Northlands ~ +4 Golf Course Aarne ew ante ene sown a i “THE CITY POF WORTH |= My! The Park: Dedication q questions ‘seek assent of the electors to dedicate Cates Park and Deep Cove Park for “park “purposes” and the Northlands Golf Course lands for the - purposes of a municipal public golf course arid a public. .. park. As these parks are already owned by the District, the referendum questions ¢ do not seek approval to borrow funds 40 D purchase the land. Where the Money is needed. ‘Cultural and Social Facilites * replace the Lynn Valley Main Library with a new - butilding offering more materials, improved access to new technologies such as the-Internet and CDRoms, and. with better access for people with disabilities, 4 The funding will allow the District to provide services in the following areas: Recreation and Parks * improve access 16 community-oriented recreation facilities by providing new community centres in two areas currently without a facility -- Parkgate and Lower Capilano Make Your Point ~ VeteonSoturay November 6 * with the City, jointly provide a new Henage Services! . _ Archives Building for the preservation of and publi, ' access to art ifacts and archival records Next steps “On approval of the authority to borrow, the projects proposed in the referendum would come on stream over a number of years. Some are al the stage where construction _ could begin almost immediately. Some are at the concept «stage and will require further public input and review and develop more sports fields for the growing number of soccer and ball teams of all ages, while reducing the _ a re impact on the surrounding neighbourhood al Inter River ° support the provision of space | fora a non-profit child care ; operation in the high-need Parkgate area, as part of the community cenire, ; increase support jor volunteer projects designed to ~ expand and upgrade our trail system with improved consideration by Council through the process of site, selection, planning, design and construction. “As the specific Projects come forward, the District will "consider other sources of funding, such as partnerships, in an effort to reduce the impact on taxes. However, approval ‘of the referendum does not legaliy bind subsequent , pines to implement the projects nor borrow to fund them. conditions and signage . provide a new ’ tighted sports courl, near Karen Magnussen récCentre, for mixed uses such as lacrosse ., - and inline skating, to replace a similar facility taken 0 out: S of operation ~ ae ‘ provide year- round tennis at a new indoor pay-as- ‘you: For more information ° - Drop into District Hall or your local recCentre or Library to:view informational displays on the pro: ects and Prck up Project information, sheets vs if you have questions on the Election’ or. "Referendum Questions, Just ask! Phone the’: _ Election triformation, Line at 990-2424, ° : While: the borrowing authority would be valid for 10 years, play facility -MOSL. projects are expected to be completed by the year 2001. All funds will borrowed at a term of 20 years. Funds may only be used for the projects identified and be no more than the amount identified for that project. : Be _ Parkgate Community Centre © Inter River Park Sports Fields . § " anticipated phasing} .. Tax impact of the projects, The cost of repaying borrowed funds and the cost of operating new facilities will be added to annual taxes of all property owners in the District, These additional amounts are estimated to increase taxes by 7.9%, based on a total loan of $26 million. For example, the owner of a home * assessed at $320,000.(the average in the District) would see - an increase of $95 on their annual tax bill. . Mixed Use Sports Court Natural Parkland Trails indoor Tennis Centre Heritage Services Building Lynn Valley Library Capital funding required each year Annual increase in debt & operating casts . % tax increase each year $Tax increase per year! p. " However, increases will be phased over several years as the . projects come on stream and funds are needed for the capital work and for operating the new facilities (see Projected Timeline, at. right). The debt portion ($77) of the additional tax amount will remain as part of the tax bill until the debt is retired in 2021, while the operating cost = : _ Portion ($18) will remain on the tax bill permanently. “Once we reach the cumulative increase of $94.96°, this cxdtional tax will continue until 2017, afier which the amount begins to drop as each issue of debt is retired. Operating costs will continue al $18 a year once the fina fina’ payment is made in 2021.