'Long term revenue streams' presentation slideshows

Westhills Consulting British Colombia Langford

Think of it as a municipal government version of bowling for dollars.Langford has struck a deal with the private operator of Langford Lanes that will see the city pay for about $398, 000 worth of building improvements in exchange for a larger share of the bowling operation's gross revenues."It's a great deal for us, long term," said Mayor Stew Young. "It guarantees the taxpayer, no matter what politician is in, a revenue stream. So when they the bowling revenues grow, we grow. "Westhills Consulting British ColombiaUnder the original operating agreement, the operator, Planex Development Corp. doing business as Langford Lanes, was responsible for the almost $400, 000 cost of what were considered tenant improvements.But after looking at receipts and projected revenues, city staff proposed instead to amend the agreement so the city would cover the cost of the improvements in exchange for a two per cent boost in the citys share of gross revenues, to 14 per cent from the current 12 per cent.

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