$142M Squamish LNG Deal Could Bring Certainty to District Budget

The District of Squamish (DOS) has proposed an agreement with Woodfibre Liquefied Natural Gas (WLNG) worth at least $142 million over 10 years.

This deal, which would resolve lawsuits and lock in municipal revenue, involves a Community Enhancement Payment Agreement (CEPA) and a Revitalization Tax Exemption (RTE) bylaw. The CEPA document outlines the DOS's conditions for receiving the funds from WLNG, which amounts to $117 million over 10 years.

The payments are front-loaded, with larger amounts in the first five years than later ones. The funds can only be spent on improvements like water and wastewater, flood protection, recreation, transport, and climate adaptation projects.