Banff’s reserve fund that pays out money to help preserve heritage properties is diminishing.
As part of operating budget deliberations this month, Banff politicians directed administration to bring them a report on options for funding the reserve, however, Councillor Chip Olver fought to immediately add $15,000 a year to the heritage reserve.
“This is a diminishing reserve and we’re bringing it down to a level that should a property come forward for designation, we wouldn’t be able to approve it because there won’t be money in the reserve,” said Olver, council’s representative on the Banff Heritage Corporation.
“In 2015, we transferred out $50,000 and brought in $15,000, and for subsequent years we’re transferring out $30,000 and only bringing in $15,000, and so we’re intentionally running this reserve into the ground.”
There was $158,428 in the reserve at the beginning of the year and council is budgeting to put $15,000 in, while paying grants from the reserve of $50,000. That means the forecast balance by the end of the year would be $123,428.
Each of the next three years has a net reduction in the reserve of $15,000 per year.
To encourage retention and preservation of treasured heritage properties in Banff, the Town of Banff offers financial incentives for owners of properties registered on Banff’s voluntary heritage inventory list.
Financial incentives are by way of a grant in aid of municipal taxes and/or a matching restoration-rehabilitation grant, which are funded through the heritage reserve.
There are also non-financial conservation incentives, which include variances to the land use bylaw, relaxation of Banff’s design guidelines, and land use bylaw amendments, among others.
Banff has 10 designated municipal heritage resources, all considered A-ranked properties.
They include Harmony Lane, Dave White Block, Luxton Residence, Tanglewood, Beaver Lodge, Tarry-a-while, Cascade No. 5 Masonic Lodge, Crosby Residence, Crandell/Peck Cabin and St. George Anglican Church.
Mayor Karen Sorensen said she was not prepared to add $15,000 to the heritage reserve without additional information.
“I want administration to work with the heritage corporation board and then return to council with options with how we might provide the heritage corporation with more sustainable funding,” she said.
“I’m happy to look at this, but I just want numbers in front of me. I need to understand the history of how we fund the heritage corporation.”
Olver disagreed, noting there was enough information to add money to the reserve.
She said at one point there was close to $300,000 in the reserve – but it’s dwindling.
“This is a program that is important to community,” she said. “I think it would be ill-advised to not at least be putting in what we’re taking out on an annual basis. It’s just not good business practice.”
Robert Earl, Banff’s town manager, said Banff’s planning and development department would help the heritage corporation look at a process to come up with a recommendation to council to replenish the reserve.
“If that decision was made after council had set the budget and council wanted to fund it in 2016, council could use the budget stabilization fund at that point,” he said.
Banff has 38 A-ranked properties on the voluntary heritage list, 10 B class properties and three C-ranked properties. Examples of A-ranked buildings and sites include Bow River Bridge, St. Paul’s Presbyterian Church and the Sibbald Residence.
