Financial and Economic Analisis of Anmore Village

Village Finances 

The Village of Anmore is largely reliant on residential property tax, making up nearly 70% of the revenue, resulting in significant constraints on non-tax revenue generation. To ensure long-term sustainability, a Financial Sustainability Plan was commissioned in 2013, recommending faster development rates, flexibility in lot size restrictions, and support for denser forms of development.  

Anmore South, with the capacity for varied land uses, is seen as a key area for stimulating financial growth and providing substantial benefits to the municipality and community. Fiscal and Economic Impact Analyses have been conducted, considering initial neighbourhood concepts and population projections. 

A Fiscal Impact Analysis of the proposed Anmore South Development, as of November 2021, compared the current financial situation of Anmore with a scenario where Anmore South is fully developed. The evaluation revealed a net fiscal benefit of $700,000 per annum, considering all potential revenue streams and costs. The financial improvement offers Anmore Village expanded financial options, including new or improved services, infrastructure renewal, and potential tax reduction. 

The Economic Impact Analysis examined the employment implications of the proposed amenities in Anmore South and the increased variety of housing choices for current residents. The development is projected to create approximately 580 jobs, including those within Anmore South and those due to the growth of local government and schools elsewhere in Anmore. An additional positive impact is the estimated 2,800 person-years of employment associated with construction.  

In conclusion, Anmore South holds significant potential to strengthen the Village of Anmore’s financial position, stimulate local economic growth, and enhance community services and infrastructure.