Economy - Report Card

Priorities

Maximize use of remaining land in the Dominion Triangle to create high quality jobs for our residents so they can live, work and play in Port Coquitlam. 

• The City proactively planned for the Dominion Triangle industrial/commercial area in 2009 by engaging a planning consultant and implementing recommendations intended to promote business and employment opportunities.
• Significant development proceeded in 2010 in the Dominion Triangle area, kick-started with the construction of a habitat area / environmental compensation works next to Pitt River.
• Two new roads – Sherling Avenue and Hawkins Street – and a new major intersection on Lougheed Highway have been constructed to provide access to a new highway commercial development, Fremont Village, now under construction by the Onni Group. Council gave third reading in December 2010 to a proposal to develop lands for industrial and residential purposes and construct a portion of the Fremont Connector.

Develop tax incentives to encourage re-development of downtown and the northside of Port Coquitlam.

• Tasked Smart Growth Committee with recommending solutions. Report to Council expected in 2011.

Develop a non-market housing strategy for Port Coquitlam.

• March 2009 – Launched Mayors Action Team on Homelessness (MATH) to address this issue.
• October 2009 – MATH produced a strategy to end chronic homelessness in the Tri-Cities by 2014, and founded a new society to complete this task: the Homes for Good Society.
• Developed a funding strategy through dedicating funding from bonus density funds acquired during the development of multi-family homes with increased density. 

Stabilize property tax increases over a five year period to allow residents and businesses to budget for the future

• Council passed a policy to cap property tax increases at a maximum of 5%. This includes a 1% dedication to the infrastructure gap, which is the long term savings for future infrastructure replacement.