Vancouver Agreement Finances
VANCOUVER
AGREEMENT

FINANCES

Note: The Vancouver Agreement (VA) expired in March 2010. This website chronicled the life of the VA and still provides information about the Agreement and the projects it funded. For a retrospective overview see Vancouver Agreement 2000-2010 Highlights.


One of the Vancouver Agreement (VA) guiding principles is to increase public and private investment in community actions and change. From the three levels of government and the private sector, the VA has committed $28 million to inner-city initiatives in Economic Revitalization, Safety & Security, Housing, and Health & Quality of Life.

Community agencies, the private sector and governments provide additional funding to complement VA monies. Most of the projects funded through the VA have multiple sources of funds including the private sector, governments, in-kind donations and foundations. The leveraging of funds for each project is an important achievement for an intergovernmental initiative allowing the implementation of projects that often would go beyond the scope of a single agency.

The Financial Report shows VA revenue and expenditures up to May 2009.

Revenue

During the VA’s first few years, the three partner governments provided a limited amount of funding for a small secretariat (now called the Coordination Unit).

The funding situation changed in 2003 when the provincial government contributed $10 million for inner-city revitalization, to be administered by the VA. At the same time, the federal government allocated $5 million to the VA, but retained administrative responsibility for these funds through Western Economic Diversification Canada. (In the spirit of the VA, the federal government allocated an additional $5 million for the Urban Aboriginal Strategy and the Homelessness Strategy.)

Since 2003, the province has provided additional funding for a total of $18.8 million. The federal government has invested a total of $7.7 million in projects funded through Western Economic Diversification Canada.

The City of Vancouver has made substantial in-kind contributions, including space in city buildings, zoning and development cost compensation, heritage preservation incentives, administration and financial management.

From the private sector, Bell Canada made a $1.5-million grant to the VA.

The total revenue of the VA from 2003 to 2009 is $27.9 million.

Expenditures

In the first three years, VA initiatives were funded directly by the government partners in accordance with their respective mandates. Governments coordinated their collective activities while retaining program management, monitoring and reporting responsibilities.

With the infusion of provincial funds in 2003, the VA assumed the role of a granting agency. The funds were to be spent according to the VA guiding principles of coordination, policy change, innovation, investment and evaluation.

Task teams and committees composed of staff from the three government partners and related public agencies consulted with community groups and businesses to identify funding opportunities for the VA.

The VA Planning Table provides due diligence on funding proposals and the VA Management Committee makes all funding decisions.

(See How It Works for a description of the VA structure).

VA funds are directed at projects that will contribute to the VA strategic initiatives:

  • Economic Revitalization
  • Safety & Security
  • Housing
  • Health & Quality of Life

The total expenditures and commitments of the VA from 2002 to 2009 is $27.5 million. Economic Revitalization accounted for 48.7% of expenditures, Health & Quality of Life 19.6%, Housing 14.5%, Safety & Security 8%,  and Administration accounted for 9% of expenditures.

See the Financial Report for funding on each project.