MINUTES

1.

It was moved and seconded

That the minutes of the meeting of the Finance Select Committee held on Thursday, September 26^th, 2002, be adopted as circulated.

CARRIED

It was moved and seconded

That the Terms of Reference for the proposed Richmond Economic Advisory Task Force be added to the agenda as an additional item.

CARRIED

FINANCE & CORPORATE SERVICES DIVISION

2.

2003 OPERATING BUDGET SUPPLEMENTAL INFORMATION
(Report:  Jan. 31/03; File No.: 0970-01) (REDMS No. 956361)
 

3.

CALCULATION OF PROPERTY TAXES
(Report:  Jan. 30/03, File No.:  0925-01) (REDMS No. 955111)

The Director of Finance, Andrew Nazareth, gave a PowerPoint presentation on (i) the level of taxation faced by the average BC resident and Richmond property owner, and (ii) how property taxes were calculated.  Also circulated to the Committee was a copy of the Assessment Change Analysis Summary.  A copy of the presentation and the additional information is attached as Schedule A and forms part of these minutes.

Discussion then ensued among Committee members and Mr. Nazareth on:

proposed property tax increases and what comprised these increases (i.e. with or without community safety buildings)

the impact of RCMP and firefighter contracts on the City budget, and the feasibility of identifying in a separate line on the property tax bill, the cost of providing protective services

the feasibility of sending out a separate tax notice for protective services as a way of not delaying the adoption of the City's budget by on-going community safety issues
 

the timing of the report to Committee with recommendations on funding options for the replacement of the community safety buildings

the need to improve the City's revenue sources by encouraging more businesses and industry to locate in Richmond

the amount of casino revenue being used as part of the City's operating budget

how the mill rate was determined for the City.

It was moved and seconded

That the reports (dated January 30^th and 31^st, 2003, respectively, from the Director, Finance), regarding 2003 Operating Budget Supplemental Information and the Calculation of Property Tax Rates, be received for information.

CARRIED

4.

TERMS OF REFERENCE RICHMOND ECONOMIC ADVISORY COMMITTEE

The Manager, Business Liaison & Development, Marcia Freeman, circulated to the Committee, a copy of the revised Terms of Reference for the Richmond Economic Advisory Committee.  A copy of the Terms of Reference is attached as Schedule B and forms part of these minutes.

Discussion then ensued among Committee members and Ms. Freeman on the proposed Terms of Reference.  Concern was expressed about the composition of the membership of the proposed Task Force, it being felt that rather than nominating one person from a specific group, that an invitation should be issued to all organizations, businesses and individuals in the City to submit nominations, with Council selecting eleven members from the names submitted.  Concern was expressed that there were many other organizations within the business community who were not represented and who could provide valuable insight.  It was also felt that the individuals appointed to the Task Force should be appointed at large rather than as a representative of the organization which made the nomination.  The concern was expressed that a person nominated, for example, by the Chamber of Commerce, might feel obligated to represent the views of that organization.

During the discussion, comments were made by the Mayor that he did not feel it necessary that he nominate a business person as recommended in the proposed Terms of Reference.  The Mayor also suggested that a member of Council should be appointed to the Task Force as a non-voting member, and that the facilitator could be a member of staff.

As a result of the discussion, the following resolution was introduced:

It was moved and seconded

(1)

That the Terms of Reference for the Richmond Economic Advisory Task Force (dated February 5th, 2003, from the Manager, Business Liaison & Development), be endorsed, with amendments to:

(a)

Membership by deleting the proposed membership in its entirety, and substituting the following, The 11 members of this Advisory Task Force are appointed by City Council;

(b)

add the appointment of a Council Liaison as a non-voting member of the Task Force; and

(c)

Staff by inserting after the words one facilitator, the following, who may be a staff member;

(2)

That membership on the Task Force be advertised on the City's web site and through a press release, and that all organizations, businesses and interested parties be invited to submit nominations for membership to the Task Force by Friday, February 28^th, 2003; and

(3)

That Council select the 11 members of the Richmond Economic Advisory Task Force from the names submitted.

CARRIED

ADJOURNMENT

It was moved and seconded

That the meeting adjourn (5:12 p.m.).

CARRIED

Certified a true and correct copy of the Minutes of the meeting of the Finance Select Committee of the Council of the City of Richmond held on Wednesday, February 5^th, 2003.

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Councillor Kiichi Kumagai
Chair

Fran J. Ashton
Executive Assistant