WALLY Boyko, left,
recently sold his 1966
Oldsmobile Cutlass
sonvertibie to Alberta
riend Ron Hepperie,
who has had his eye
on the car since 1979.
* Boyko bought the car
new and has travelled .
175,000 miles since he
first turned the key.

TCBC pays grants

ICBC is contributing $2.3-million to the City of

Vancouver, the City of North Vancouver and the

District of North Vancouver in the form of

grants-in-lieu of property and schoo! taxes.

: “These grants are an example of TCBC’s corporate social
responsibility,” said ICBC’s John Hancock, Vice President,

Greater Vancouver West Region. “ICBC works hard within our -

respective regions to develop a relationship with cach munici-
palicy and these grants are an example of our commitment to
_foster this ongoing relationship.”

The City of Vancouver receives $1,038,638.51, while the
‘City of.North Vancouver receives $1,106,024.27 and the
: District of North Vancouver receives $118 27, 64.

As a provincial Crowa corporation, ICBC i is not required to

pay business and property taxes. Instead, communities receive
_ annual grants that are equal to the taxes that would be levied if
ICBC were a private business.
ICBC grants-in-licu of taxes paid to the six regions across
-_ B.C. this year total $4.3 million. In addition, ICBC has invest-
- ed $1.8 million so far this year for safety projects with local gov-
ernments through the corgoration’s Road Improvement
Program.
Grants are paid to communities with ICBC claiin, centres,
» - administrative offices and storage and salvage yards.
"The municipal grants vary according to the'size and location
of the premises and differences in local mill rates.

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