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Read All Latest NewsCITY OF LANGFORD COUNCIL VOTES UNANIMOUSLY TO PURCHASE THE WESTHILLS LANGFORD AQUATIC CENTRE BUILDING
(Langford, B.C.) – At the December 16th Council meeting, Langford Council voted unanimously to purchase the Westhills Langford Aquatic Centre and associated 186-space parking lot. The building is home to the YW/YMCA aquatic centre, a day care, the Greater Victoria Public Library, the Victoria Conservatory of Music, and Paradigm Orthodontics. The decision was made after a thorough due diligence process and several opportunities for public input. During deliberations Council emphasized the importance of offering a variety of recreational services for residents of all ages and stages of life. They noted that while recreation centres are not profitable, they are a fundamental part of local government services for residents.
The purchase price of the property is $35 million. The property’s 2024 assessed value is $35,146,000 and the facility’s insured value is over $44 million, both of which affirm its fair market value. Neither valuation includes the parking lot with 186 spaces, which is included in the transaction. The decision of Council was heavily based on the significant cost savings to the Langford taxpayer of approximately $10.2 million over the next 17 years, and $121 million over the lifespan of the building, compared to continuing under the current arrangement. The decision of Council was also driven by the desire to secure the recreation asset beyond the remaining 17 years of the existing agreements.
Under the existing agreements, the City is responsible for covering any financial lease obligations above and beyond the originally committed $950,000 in additional financial supports to the YW/YMCA. Today, this results in $1.9 million in total annual supports, closely aligning with the YW/YMCA’s current annual rent. In addition to anticipated rent increases built into the lease, there are an anticipated $14.8 million in lifecycle costs over the same period, both of which remain unbudgeted for by the YW/YMCA and represent potential future financial implications to the City based on the terms of the tripartite agreement.
$9.5 million of the purchase price will be funded by the Growing Communities Fund (a portion of the $16.4 million Provincial grant received by the City in March 2023), $20 million of the purchase price will be financed through a five-year loan through the Municipal Finance Authority of BC, and the remainder will be funded through property taxes collected/to be collected in 2023, 2024 and 2025. The five-year short-term loan is projected to save taxpayers approximately $7.5 million in interest compared to a longer-term, 20-year loan. Additionally, after the short-term loan is repaid, the additional taxes enable the City to build financial capacity for asset management or other initiatives, with approximately $7.6 million available annually after 2029. The repayment of the short-term loan requires annual tax increases of approximately 1.75% from 2025 to 2028.
While Council’s decision focused on the building purchase rather than the operations of the aquatic centre, they acknowledged the need for ongoing discussions to enhance recreational services for residents. Langford will take possession of the building and parking lot on April 1, 2025, subject to the due diligence period.
To review associated Council meeting recordings, reports, and frequently asked questions, visit LetsChatLangford.ca/YMCA.
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