Contributed - Dec 9, 2010 / 3:00 pm CASTANET:
Gas Tax Agreement
Council is supporting the RDCO’s request to the UBCM to move from Tier 2 to Tier 1 under the Gas Tax Agreement. What does this mean? The Gas Tax Fund provides federal funding for B.C. local governments for a variety of capital and planning projects. As a Tier 2 regional district, 50% of the funds are given directly to the member municipalities within the region and 50% is set aside for regional projects through an application process. By moving to Tier 1, this would mean that local municipalities would directly receive 75% of the funds and only 25% would go towards regional priorities. For the District, this would mean an approximate increase of $150,000 in annual funding from the Gas Tax Agreement.
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