BC Economic Fundamentals 2009-01

[joeiannuzzi]

What`s Behind the Curtain?
British Columbia
2009-01
Daily Online Edition

BC Economic Fundamentals 2009-01

The following codes will be at the top of each post using an eight sequence alphanumeric description of the month, year and area:

MMYYAREA

Examples


0109BCBC = Jan 2009 British Columbia

0109FTJN = Jan 2009 Fort St. John/Dawson Creek

0109KLNA = Jan 2009 Kelowna

0109KMPS = Jan 2009 Kamloops

0109LMLD = Jan 2009 Lower Mainland

0109RUPT = Jan 2009 Prince Rupert

:#ff0000">0109VANC = Jan 2009 Metro Vancouver

0109VERN = Jan 2009 Vernon

0109VICT = Jan 2009 Victoria


If you wish to view only one geographic area`s posts, you can use the advanced search mode and type in the 8 sequence code for your area as described above and select the "Result Type" > "Show results as posts".

I have also color coded each area along with the caption to make it easier for you to simply scroll through the posts and locate the ones you are interested in.

 

[joeiannuzzi]

0109BCBC
Assessments to reach homeowners next week

It`s not exactly Sears catalogue day, but the first official working day in January no doubt has postal workers doing a few pre-work stretches as they prepare to handle the 1.85 million assessment notices being sent out across the province.

B.C. Assessment will send the notices out starting today meaning homeowners around the province will start seeing the envelopes in their mailboxes early next week. But homeowners anxious to check out the assessment of their homes may be able to do so online at www.bcassessment .bc.ca starting today.

http://www.timescolonist.com/news/todays-p...4366/story.html

 

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0109FTJN (Fort Nelson)
Multibillion-dollar gas plant planned in B.C.

VANCOUVER — EnCana Corp. has taken an early step toward building what could be a multibillion-dollar plant in northeastern British Columbia. The plant would process natural gas from the Horn River Basin, a promising natural gas play that last year helped the province reap a record $2.7-billion from the sale of oil and natural gas exploration rights.

In a project description for the Cabin Gas Plant, submitted to the provincial government, EnCana outlines a plant that would be located about 60 kilometres northeast of Fort Nelson and have initial processing capacity of 400 million cubic feet a day.

http://www.theglobeandmail.com/servlet/sto...090103.encana03

 

[joeiannuzzi]

0109BCBC
A slight easing of the tax load offers some comfort for British Columbians

Do you ever feel that taxes -- and, I don`t know about you, but my 2008 income tax forms arrived in yesterday`s mail -- are like a treadmill?

Well, actually they`re not quite so bad. You may, indeed, have to run flat out to stay on top of them, but it looks like British Columbians who think the tax bite is too big are doing a bit better than just staying even.

http://www.vancouversun.com/news/todays-pa...6959/story.html

 

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0109VICT
Neighbours pan Bay crosstown bus plan

Plans for almost 100 buses a day to rumble up and down Bay Street have some local residents worried about safety on the notoriously narrow and crowded road.

B.C. Transit has been hosting open houses about the proposed Bay Street crosstown bus for months.

http://www.timescolonist.com/news/todays-p...8271/story.html

 

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0109VICT
Monthly housing sales off 40%

The Victoria Real Estate Board has an unenviable task ahead of it. Each month, it will have to release the region`s sales summary and compare it with one year ago -- and it`s unlikely to be pretty.

It started yesterday, as the board released December and year-end statistics showing sales last month dropped by more than 40 per cent from December 2007. The median selling price of a single-family home fell to $507,500 from $536,000.

http://www.timescolonist.com/Homes/Monthly...8356/story.html

 

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0109VANC
Metro Vancouver warns of rising garbage costs in new year

The tipping fee for garbage and green waste that Metro Vancouver charges at regional waste transfer stations was scheduled to go up on Jan. 1 by $3 per tonne, to cover increasing operational costs.

Approved on Oct. 31 by the Metro Vancouver board, the increased rates will be as follows:

- The garbage disposal rate will be $71 per tonne at all regional disposal sites.

http://www.canada.com/coquitlamnow/news/st...72-6c758f3a30e4

 

[joeiannuzzi]

0109RUPT
City unsure Alaska ferry dock is for sale

The City of Prince Rupert has yet to commit to the idea of selling the Alaska Ferry Dock to the Alaskan government, even with $7.5 million on the table.

According to Mayor Jack Mussallem, the city is open to any proposal by the state to purchase the facility - but it isn`t rushing to get rid of it either.

"It is really welcome news that the Alaska Marine Highway wants to maintain a terminus in Prince Rupert," said Mussallem through an email Wednesday.

http://www.canada.com/cityguides/princerup...01-a9550ae021b4

 

[joeiannuzzi]

0109VERN
B.C. to boost Vernon`s image

Efforts are underway to bolster Vernon`s reputation as a tourism destination.

Tourism B.C. is working with community leaders and industry stakeholders on a plan that will provide direction for continued destination enhancement.

"It`s a wonderful opportunity and it comes at a perfect time for us as we are developing a stronger role for tourism in Vernon," said Mayor Wayne Lippert.

http://www.bclocalnews.com/okanagan_similk...s/36665694.html

 

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0109KLNA
Economy is still riding rollercoaster

It`s been a roller coaster of a year as far as the local economy is concerned.

Until the summer, the business community expended most its energy trying to get a fix on attracting and retaining employees so they could meet the high demand for services, said Weldon LeBlanc, CEO of the Chamber of Commerce.

Then bad news that started in the United States began to take hold locally.

http://www.bclocalnews.com/okanagan_similk...s/36909969.html

 

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0109VICT
Waterfront takes hit in 2008 assessments

Greater Victoria homeowners have it in writing now -- their houses are worth less, especially if on the waterfront.

Property assessments are arriving in mailboxes this week, and they`re using July 2007 market values instead of the usually higher ones from July 2008.

http://www.timescolonist.com/news/todays-p...6347/story.html

 

[joeiannuzzi]

0109BCBC
B.C. offers buyout to neighbours of powerline that supplies Vancouver Island

Tsawwassen homeowners who live near a controversial power line have been offered buyouts by the B.C. government.

The 138 homeowners live under a four-kilometre overhead line that was increased in height and voltage last summer.

The segment is part of a system that stretches between Tsawwassen and Duncan, replacing a line that B.C. Transmission Corp. says is too old, underpowered and unreliable to serve Vancouver Island`s growing population in coming decades.

http://www.timescolonist.com/news/todays-p...6392/story.html

 

[joeiannuzzi]

0109FTJN
What`s next after the oil sands stampede?

The recent euphoria surrounding the development of the Canadian oil sands has come to an end because of the economic fallout from the global financial crisis. But in its recent update to its crude oil outlook through 2020, the Canadian Association of Petroleum Producers (CAPP) has chosen to ignore most of the damage to the oil sands industry.

http://www.timescolonist.com/Technology/Wh...6417/story.html

 

[joeiannuzzi]

0109LMLD (Richmond)
Major project put in jeopardy

Richmond`s huge Sun Tech City project and the proposed Capstan Way Canada Line station are in jeopardy as Richmond council prepares to vote today on whether to shelve the 16-tower development.

A city staff report says the developers, Pinnacle International and Concord Pacific, have not lived up to their end of a deal in which they would help finance the additional Canada Line Station.

http://www.vancouversun.com/news/todays-pa...5782/story.html

 

[joeiannuzzi]

0109LMLD
Real estate sales slide more than one-third in 2008

Lower Mainland real estate markets got off to a roaring start in 2008, but faltered after buyers were caught in the growing economic malaise and took a step back.

In Metro Vancouver, real estate sales fell by 35 per cent in 2008 to 24,626, units compared with 38,000 the previous year, the Real Estate Board of Greater Vancouver reported Monday, putting sales at their lowest level since 2000, according to Canada Mortgage and Housing Corp. records.

http://www.vancouversun.com/Homes/Real+est...5790/story.html

 

[joeiannuzzi]

0109FTJN
B.C. coal miner chops production

One of the province`s leading coal producers said yesterday it is cutting back production at its two northeastern B.C. mines, affecting 460 workers, until demand for coal improves.

Western Canadian Coal said production is dropping from 1.3 million tonnes to 750,000 tonnes a year at its Brule mine near Chetwynd in northeastern B.C. at the end of January

http://www.timescolonist.com/news/todays-p...0374/story.html

 

[joeiannuzzi]

0109BCBC
Power of attorney must be in writing

Dear Condo Smarts: I have acted as the president of a strata for over 15 years.

One of our senior owners, who has been in hospital several times in the past year, assigned her power of attorney to her son. Without any understanding of the assignment, he took her to his lawyer to have the paperwork drawn up and she essentially gave control over all of her property to her son.

We became aware of this in December when her son showed up at the meeting to vote on behalf of his mother. When we requested a proxy he gave us a copy of the power of attorney identifying the power over the property including voting assignment.

We discovered that he sold the unit in December when the movers showed up. He has not indicated to her where she will live when she is released from hospital next week. How can we better protect our seniors in our communities?

http://www.timescolonist.com/news/todays-p...0429/story.html

 

[joeiannuzzi]

0109LMLD (Richmond)
Richmond transit trouble shouldn`t derail financing model

It`s sad to see another major real estate deal sour in the acidic economy. However, it shouldn`t be the end of the line for a promising source of financing for rapid transit in the Lower Mainland.

The proposed 16-tower Sun Tech City development would have had a huge impact in Richmond, not the least of which was to have provided financing for the proposed Capstan Way Canada Line station.

http://www.vancouversun.com/Homes/Richmond...9905/story.html

 

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0109VANC
Metro home price prediction: 9% drop in `09

Metro Vancouver`s home prices rose the highest in Canada`s property boom and will fall the furthest in its correction, real estate firm Royal LePage forecast Tuesday.

Royal LePage Real Estate Services predicted in its 2009 market survey forecast that Metro`s average home price will decline nine per cent in 2009 to $540,100 from a 2008 forecast of $593,500.

http://www.vancouversun.com/Homes/Metro+ho...9922/story.html

 

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0109LMLD (Pitt Meadows)
Airport future still idling on political runway

Just about everyone involved agrees that Pitt Meadows Regional Airport is a diamond-in-the-rough that will add a significant lustre to the local economy -- if only local government gets its act together.

For over a year now, manager Bill Neale has watched the two masters his airport must serve -- the City of Pitt Meadows and the District of Maple Ridge -- spin their bureaucratic wheels over its governance.

http://www.canada.com/theprovince/news/sto...e6-ed019dade3da