The Corporation of Delta has received top accolades as “Most Fiscally Responsible” and “Most Improved” by NAIOP Vancouver, The Commercial Real Estate Development Association.
“Both of these awards speak to the financial leadership of this council,” said Mayor Lois Jackson. “Our commitment to providing innovative tax incentive programs, keeping property taxes low and investing in new infrastructure, while adhering to Delta’s 'no new borrowing' policy, has established Delta as a municipal leader in fiscal management.”
Delta’s awards are part of NAIOP’s annual “municipal report card,” which compares the performance of 21 municipalities in Metro Vancouver, with a focus on the industrial market.
According to NAIOP, Delta has successfully managed to keep cost increases in line with overall inflation, leading to Delta being named “Most Fiscally Responsible.” NAIOP also reported that the Corporation of Delta, City of North Vancouver and City of Langley will share the “Most Improved” award for their reductions in overall costs from the previous survey results.
By the end of 2013, Delta’s general municipal debt will be down to $2.2 million, a significant drop from the high of $44.7 million in 2000. With Delta’s continued commitment to “pay as you go” project funding, in just a few more years, the general debt will be entirely eliminated.