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Read All Latest NewsCITY OF LANGFORD COUNCIL RECEIVES UPDATE ON WESTHILLS YW/YMCA LANGFORD AQUATIC CENTRE AND CONSIDERS NEXT STEPS
(Langford, B.C.) – At the Council Meeting on Monday, November 4th, 2024, City of Langford Council was provided with a comprehensive update from Colliers Project Leaders regarding the potential purchase of the Westhills YW/YMCA Langford Aquatic Centre and neighbouring parking lot (“Building”). The briefing detailed the due diligence steps undertaken to date, and the financial impacts of either continuing under the current arrangement or proceeding with purchasing the building. The presentation included historical context of the 2013 tripartite agreement with Westhills Land Corporation, the YW/YMCA, and the City. Colliers also provided details on an offer to sell received from Westhills, a financial analysis, and funding options for Council to consider. The discussion did not include a review of facility operations/programming, which is independent from a decision to purchase the building or not and can be considered at a later date. Council deliberations are reserved until December 2, 2024, in order to provide an opportunity for public input at future Council Meetings (November 18, December 2, December 16 – if needed), or via email ().
The overview indicated that, according to the tripartite agreement, in the event of a default by the YW/YMCA, the City is required to cover the building lease and lifecycle expenses. The YW/YMCA has indicated that it has already lost over $10 million to date operating the facility, and that its business model does not include coverage for lifecycle costs. Given the City’s obligations and the YW/YMCA’s financial constraints, due diligence conducted estimates an expenditure of approximately $14.8 million on lifecycle costs over the next 17-years, regardless of whether the City decides to purchase the building or not. This obligation arises because the City acts as the financial guarantor under the terms of the tripartite agreement.
In addition to funds collected in 2023 and 2024, a purchase will require an annual tax increase of approximately 1.75% from 2025 to 2028. The approved 2024-2028 Five Year Financial Plan includes the projection of these increases through 2027, meaning the decision to purchase will also require a tax increase in 2028. Purchasing the building is projected to save the City $10.2 million over 17-years, and $121 million over 42-years, when compared to continuing with the current arrangement. In addition to the projected long-term savings, the purchase of the building and associated parking lot would secure the asset for Langford residents, providing more certainty around the facility operations after the current arrangement expires in 17-years.
The public will be able to access a recording of the November 4th Council meeting, and a copy of Colliers presentation, at LetsChatLangford.ca/YMCA later today. Further information will be made available at the November 18, 2024, regular Council Meeting.
The public is invited to share their thoughts with Council through public participation at an upcoming Council meeting (in-person or online), or by sending written submissions to . Alternatively, submissions can be mailed or delivered to City Hall at Unit 117, 877 Goldstream Avenue. For meeting dates, agendas, and dial-in details, visit Langford.ca/Meetings.
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