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Vancouver asks province for up to $200 million in crisis capital
VANCOUVER — within the midst associated with novel coronavirus pandemic, the populous City of Vancouver is asking for approximately $200 million in economic help through the province.
Mayor Kennedy Stewart provided the change during a day news meeting Wednesday after outlining the significant impact that is financial town is dealing with.
“the very fact associated with matter is we are nevertheless losing huge amount of money a ” he said week. “Our company is bleeding cash. “
Stewart estimates the town will totally lose $4 million to $5 million per week in lost revenue like parking and rec centre charges.
“we are additionally incurring costs to react to the crisis, including our focus to guard the susceptible populace in the Downtown Eastside, ” he stated.
“we are dealing with a challenge right right here into the town that at precisely the same time we’re losing all of this revenue, we are needing to intensify and offer resources to those people who are in many need, in order that’s the reason we actually need the province to intensify right right here. “
Stewart stated the crisis grant would assist the city carry on its essential solutions while additionally supporting susceptible residents.
The $200-million quantity arises from a report from the town supervisor, which describes projections predicated on the length of time health that is public final. One situation considers just just just what would take place if limitations had been lifted in might, an additional considers the situation if limitations final until August and a 3rd assumes limitations defintely won’t be lifted before the end of December.
“The province has better projections of just how long this thing is certainly going to final, but we must do financial preparation, ” Stewart stated.
The other day, the town announced it absolutely was temporarily laying off 1,500 city employees due to the pandemic. Limitations are also positioned on brand brand new hires and travel for workers.
Stewart stated more job cuts could be necessary in the event that town does get support from n’t the province.
Throughout a news briefing Wednesday afternoon, Premier John Horgan stated the province is working closely with towns to ensure it is doing exactly just exactly what it could to make certain residents will pay their bills, including home fees.
“we now haven’t got an agenda in position today but it is clearly front and center, not only from the people who owe the fees, but to those municipalities that be determined by those fees, to deliver the solutions he said that we all come to expect.
Stewart stated he, and also other regional mayors, started calling regarding the government that is provincial monetary assistance a couple of weeks ago. Some Metro Vancouver mayors asked the province to expand its property tax deferment program, which would give cities funding to replace money lost from any deferred payments at the time.
“we truly need the program to add all residents, organizations and non-profit agencies experiencing hardship that is financial” Stewart stated.
“this might offer support that is immediate the tens of thousands of Vancouver property owners, business people and non-profits that will quickly be confronted with the defaulting on the fees when we usually do not find a method to aid. “
Stewart stated he is additionally seeking the province to delay remittance of non-city property taxation things they gather with respect to other people like provincial college fees and TransLink charges.
“we might never be asking because of this if it had been maybe not for the serious finances we find ourselves in, ” he stated.