City of Surrey 2017 - 2021 Financial Plan

Message from the General Manager, Finance andTechnology

10.0 GENERAL CAPITAL FINANCIAL PLAN—ISSUES AND PRIORITIES

The City continues to undertake a number of large-scale capital projects to accommodate and support anticipated business and residential growth. The City has invested over $600 million since 2010. The 2017 - 2021 Financial Plan includes a further $238 million investment over the next five years. The funding for these projects will be primarily through internal borrowing. These projects include a new recreation and cultural facility in Clayton, additional ice surfaces in Cloverdale, the replacement of the arena in North Surrey, expansion of Unwin Park, additional space for our RCMP members, the addition of the second phase of the Surrey Museum and a partnership with the YMCA to deliver recreation services in the City Centre. The City has ongoing capital requirements of over $18.0 million per year. The City must also fund minor capital projects including improved lighting at various recreation centres, equipment and security upgrades as well as recreation facility entrance improvements. Additional details of planned capital projects can be found in the Capital Program section of this document.

11.0 MEETING THE CHALLENGES OF TOMORROW

The City of Surrey is proud to be the third largest City in British Columbia by land mass, and the second-largest City by population with just over 526,000 residents. The 2017 - 2021 Financial Plan recognizes the challenges of such a rapidly growing municipality and how that can affect our goals of sustainability, community safety, economic development, exemplary service provision, and sound municipal infrastructure.

Surrey incorporates “Triple Bottom Line Accounting” meaning environmental, socio- cultural and economic factors are considered in decision-making processes.

After relocating City Hall to the City Centre core, the City continues to see significant investment in our downtown that is creating a thriving, green and inclusive urban centre, attracting progressive business and educational organizations. The City is also completing construction of an Organics Biofuel facility that will process organic waste into natural gas, fueling waste collection trucks within the City. This Biofuel facility, expecting to become operational in 2017, will be Canada’s largest biofuel facility and will be operated by Orgaworld Surrey limited partnership. The Surrey City Energy continues to expand its service delivery with 4 multi-purpose high rises and commercial buildings and will see another 6 buildings connected to the system in 2017 and 2018.

2017-2021 FINANCIAL PLAN

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