District of Squamish is planning to lease municipal hall offices rather than build and own a new municipal hall. This option will be explored in the next four to five years.
The current municipal hall was built in 1972, is nearing its end of life, and requires ongoing repair and maintenance. Some areas in the municipal hall also require seismic and BC Building Code works to bring into compliance.
Its current size also doesn’t meet needs for office space.
At a facilities replacement meeting held yesterday, officials presented three options.
Leasing an office space would increase taxes by 2.4%, adding $62 to the average residential tax increase.
Building and owning a municipal hall would cost $18 million, increase the tax burden to $68 and affect the District’s borrowing capacity.
The third option, building the hall with a new library, would cost over $20 million, and add $136 to the tax bill. The third option would also delay work at Brennan Park. Staff and Council have decided to explore the leasing option.
“Leasing does not require the District to sell land assets to raise funds. Additionally, the lease payment is considered an annual operating expense, which does not reduce the District’s ability to borrow funds for future investments,” says a staff report.
The District says leasing would allow it to complete other investments at the Brennan Park Recreation Centre and the library, possibly before 2030.
The staff also notes that the option doesn’t tie the District into a lease in perpetuity, and the option to purchase or build a new hall is always available to the District.
