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Vancouver details early cost estimates for five-year economic development strategy
Summary
City staff told council the city has about $3 million a year from a business license surcharge increment to support redevelopment and implementation of a new five‑year economic development strategy and outlined early program cost estimates and supplemental budget asks.
Patrick Quintin, director of economic prosperity and housing, told the Vancouver City Council on May 5 that the city expects roughly $3,000,000 a year from the business license surcharge increment to fund redevelopment and economic development work and offered early estimates for implementing the council’s newly adopted five‑year economic development strategy.
Quintin said the five‑year strategy is now moving from adoption into an implementation planning phase and that the initial cost estimates staff presented are preliminary. “We are at the front end of this,” Quintin said. “We would hope to have a better idea over the next, you know, six months of what it’s really going to end up costing to do the initial work.”
The city manager and department staff emphasized the estimates assume most work will be done with partners and that city funds will often serve as matching or start‑up dollars rather than long‑term full funding. Chris Harder, deputy director, walked council through line items and four broad program goals in the strategy, from workforce and small business support to startup investment and…
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