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Multi Use Civic Facility Multi Use Civic Facility Multi Use Civic Facility Multi Use Civic Facility Community Workshop Community Workshop Community Workshop Community Workshop
Thursday December 10, 2009
Overview of the Workshop
Three Components 1. DAC & Economic Development Lisa Spitale 2. Arts, Culture & Heritage Joanne Edey-Nicoll & Brenda Beck 3. Community/Neighbourhood Uses Dean Gibson
Workshop Format
- Description by
Staff/Consultant
- Group Discussion
with Staff Facilitator
- Individual
Questionnaire
DAC DAC DAC DAC & & & & Economic Development Economic Development Economic Development Economic Development
What is DAC?
- Development Assistance Compensation (DAC)
was originally negotiated by the City, Province, BCLC and Star of Fortune Casino as a component
- f the destination casino
- Two types of casinos at the time:
– community casino with 10% net gaming revenue to local government; – destination casino with 16% net gaming revenue to local government
Principles of DAC
- DAC was known as the “second 1/6th of net
gaming wins” and was available to the casino proponent
- Projects had to economic development related
- Had to be located in “host neighbourhood”
- Could not go towards land acquisition
- Can not fund typical municipal projects such as