Langley Township council spent some time considering funding to acquire one of the key pieces of the project on Monday night – a large parkade intended to serve the whole downtown area.
That was after the council voted unanimously to carry forward the third reading of the first phase of the Janda Group’s lofty redevelopment proposal for Aldergrove’s downtown core.
It includes a high-density centre of three, six-storey buildings with condos above and commercial space on the bottom floor.
The Janda Group has also added a four-storey parking structure as part of one of the blocks, a 10-storey structure, and is to give the structure back to the Township at a cost of no more than $8.5-million.
Councillor Eric Woodward put forward a parallel motion about the parkade’s financing at the start of the debate.
The motion outlined that the $8.5-million parkade cost, first borrowed from the Township’s water and sewer utility funds will be repaid, with interest, from the Aldergrove Community Amenity Fund as it becomes available.
This provides an alternative to having to borrow funds externally, with a separate borrowing bylaw and longer loan term,” Woodward told the Aldergrove Star.
Woodward recognized Coun. Petrina Arnason for helping him develop the alternative funding strategy, “with not a penny coming from property taxes,” he commits.
The motion passed unanimously, committing the Township to operate and maintain the parkade at an annual cost estimated to be between $94,000 and $141,000 per year.
Though in support of the centre, Coun. Bob Long made mention that the parkade is still “publicly funded,” from amenity contributions from throughout the Township.
A fourth and final reading is still required to finalize the council’s approval of the first phase.
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Aldergrove celebrates potential for life back into its core
Aldergrove resident Andrew Sigalet, a part of the Bertrand Creek Enhancement Society, celebrated the motions passed.
“Finally Aldergrove will start to see some life back into the core,” he said.
Alder Community Association secretary Michelle Bridges said the council vote marked “a truly historic day.”
“I am so proud of our community for advocating so passionately for Aldergrove,” Bridges said.
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