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The City of Port Coquitlam

MAR 3.0 (Sbe

MEMORANDUM

B. Kirk, DATE: March 25, 1992
City Administrator

FIG Committee

Port Coquitlam Fund
FIG Meeting March 24, 1992

RECOMMENDATION:

That the City establish a fund which would permit citizens to donate funds or assets to the
community, and that the fund be called the Port Coquitlam Fund.

BACKGROUND & COMMENTS:

Many communities have established programs which encourage citizens, community
groups and businesses to donate funds or assets to the community, these programs are
rimarily aimed at the enhancement of parks and recreation facilities but occasionally

would include other items.
Generally, these donations will qualify for a donation for income tax purposes provided
that the City have an unfettered right to use the money or property transferred, Revenue

Canada will permit the donor to recommend to the City a use of the donation. Decisions
regarding the utilization of the donations, however, must remain the exclusive

responsibility of the City.

Our Parks and Recreation Master Plan recornmended "that the City establish a program
whereby individuals, community groups and service clubs can contribute towards

worthwhile community projects.

The purpose of this new fund would be :

a) to provide a vehicle whereby citizens who are wanting to donate to the
community may do so;

to promote community spirit and pride within the City;
to promote capital projects for public parks and recreational facilities in the City,
to.solicit and receive gifts and bequests and to raise money for the above purposes;

to provide formal recognition and acknowledgement for donations received.

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