Financial Impacts

THE FINANCIAL COST OF RAPID GROWTH (see pp. 85 & 167 and Economic sustainability requires DOM be accountable to the Mission taxpayer.Supporters of rapid development claim that increasing the population will reduce the tax burden on existing Mission residents. This claim is at odds with the reality that taxes usually increase as communities grow, particularly if development occurs in expensive to service rural areas like Silverdale.

Estimated costs of Silverdale development:

  • The Silverdale Transportation study indicates a need for 2 high-level bridge crossings over Silver Creek to link Silverdale to the rest of Mission. Estimated costs are between $20 to 30 million each.
  • Cost of acquiring property for 3 schools in Silverdale is being estimated as $10 million.
  • A District of Mission memo dated April 13, 1999 noted, “water, sewer, roads and storm drainage infrastructure costs of the Silverdale development would be very expensive ($22-30 million for water, $8-10 million for sewer)”. Costs today for this infrastructure could be as high as $70 million.
  • All other costs including detention ponds, roads, fire, police, refuse collection etc. are currently unknown.

Examination of Mission’s finances indicates severe shortfalls due to other major development projects.Financial shortfall of Cedar Valley development:

  • Paving Cedar St. from Cherry St. to Tunbridge St. with traffic signals at Egglestone and Tunbridge- funding shortfall is 2.7 million.
  • The funding shortfall for the water mains is 0.3 million.
  • The shortfall for the drainage works and services is 8.3 million not including land acquisition costs (see DOM agenda Jan. 23/08)

Total shortfall (so far) for Cedar Valley: $11 million.Other development projects not included in Mission’s financial calculations:

  • Cannell Lake Water Treatment Phase 1 Joint Application with Abbotsford estimated cost $18.5 million
  • Stave Lake Pumping Station- cost unknown.
  • James Treatment Plant upgrades (Mayor Ferguson said that Abbotsford did not have the moneyfor this upgrade.)
  • Upgrades to animal shelter- cost unknown
  • Waterfront Development- cost unknown