The City of Kelowna is on the hunt for more money and has launched what they’re calling an “alternative revenue initiative.”
In a report headed to Kelowna council on Monday, the initiative is described as active financial management, with “targeted projects to increase non-tax revenue, minimizing the City’s reliance on the tax revenue.”
Instead of tax revenue, the city is eying fees for a variety of services and has listed”the 22 most effective, innovative, sustainable, and equitable options.”
One such new revenue stream would include air leasing possibilities, for example, installing digital billboards in areas of some cities.
Other suggestions include making boat launch users pay a fee and increasing the fee for recreation centres, sports fields, and airports.
Dynamic pricing is suggested at these facilities, meaning the cost would rise at higher use times.
The city is also looking at charging more for parking rates in downtown Kelowna compared to other areas with metered parking.
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“The City of Kelowna is one of the fastest growing and fastest changing cities in Canada,” reads the report.
“The city’s financial situation is healthy, but Kelowna’s current evolution and growing demand on programs and services suggest this is a key time to proactively explore new tools and tactics to generate municipal revenue.”
The report goes on to say that Kelowna is well-positioned to become a leader in municipal revenue generation that serves the needs of residents while leveraging cutting-edge technology and embracing equitable and sustainable practices.
The report is headed to council on Monday morning and can be found here.
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