Mayor and council approved a motion to strike a new committee to examine the suggestions of Mayor Ken Sim's Budget Task Force and report back with implementation options.
According to Mayor Ken Sim's Budget Task Force, Vancouver faces two "urgent challenges." The first is a "staggering" $500-million annual infrastructure funding deficit.
Vancouver homeowners will pay an extra 7.5 per cent property tax next year. That's down from the 10.7 per cent hike last year, but still the second highest in the last decade.
Vancouver's Mayor's Budget Task Force struck in April was charged with going through the city’s budget with a 'fine-toothed comb.' The report was due to be released in October.