|Prince Rupert will receive an increase in|
revenue from Port Edward as a result of
a new agreement on Tax Sharing over
Terms of today's announcement note that the District will deliver 300,000 dollars in 2016, with another 200,000 to be forwarded to the City of Prince Rupert treasury in 2017.
As part of the new arrangement, Prince Rupert will reduce the rates for Port Edward residential dumping at the Ridley Island landfill effective January 1st of 2017.
When the new year begins, residents of Port Edward will then be paying the same rates as residents in Prince Rupert, bringing to an end the surcharge that was put in place back in January of 2015.
|As part of today's revised revenue sharing agreement, Port Edward|
residents will see their fess for usage of the Ridley Island landfill
site return to the same level as Prince Rupert residents in 2017.
In a statement as part of today's announcement, Prince Rupert Mayor Lee Brain outlined the theme of Prince Rupert's concerns over the nature of the Tax Sharing agreement over the last few years and how the city believed it provided an unjust burden on the community.
“This 2-year agreement reflects our shared understanding that Port Edward benefits from Prince Rupert services and public facilities without fully contributing towards the rising costs of operating them.” .. “The agreement is a good start towards achieving a long-term solution that is fair for taxpayers.”
The agreement of today, will be the subject of renegotiation in two years time, or in the event that Pacific NorthWest LNG makes a final Investment Decision, whichever should come first.
The need for a review of the Tax Sharing Agreement was introduced by Councillor Blair Mirau back in February of this year.
In March City Council reviewed a report from the City's Financial officer which provided some background on the issue, with Prince Rupert's Councillors then offering up their own thoughts on the theme.
You can review further background on today's announcement from this information release from the City of Prince Rupert.
More items related to Prince Rupert City Council can be found on our archive page.