The District of Squamish is seeking public comments on a proposed 10-year financial arrangement with Woodfibre LNG (WLNG) before council votes on whether to approve it.
According to a news release from the District of Squamish, the agreement in principle would establish community contributions from WLNG through a Community Enhancement Payment Agreement (CEPA) and a bylaw to implement a Revitalization Tax Exemption (RTE) program.
Council is expected to vote on the arrangement by early October so it can take effect in the 2027 tax year. The proposed RTE bylaw is expected to receive consideration for readings during a Special Business Meeting on Sept. 22.
“This is a significant decision for our community that represents a 10-year financial agreement with Squamish’s biggest industrial taxpayer,” District of Squamish Mayor Armand Hurford said.
According to the news release, if approved, the arrangement would provide the community with at least $142 million over 10 years from WLNG as pre-committed revenue.
If council does not approve the arrangement, the District will continue to rely on property taxation, with tax revenue based on the annual BC Assessment valuation of WLNG properties and the tax rate set annually by council.
Residents can review details, frequently asked questions, and copies of the proposed CEPA and RTE bylaw, as well as submit comments and questions through a webform, at squamish.ca/WLNG-agreement. According to the news release, the FAQ will be updated with responses to new questions that arise.
