Motion:
That Halifax Regional Council:
1. Suspend Schedule 2, the Audit and Finance Standing Committee Terms of Reference, of Administrative Order Number One, The Procedures of the Council Administrative Order.
It is further recommended that Halifax Regional Council:
1. Adopt the amendments to Administrative Order 2014-015-ADM, the Financial Reserves Administrative Order, as set out in Attachment 2 to the staff report dated June 10, 2025.
2. Repeal and replace the Reserve Business Cases as set out in Attachment 3 to the staff report dated June 10, 2025.
3. Approve the creation of the Police Extraordinary Investigation Reserve as outlined in the Reserve Business Case as set out in Attachment 4 of the staff report dated June 10, 2025.
4. Direct the Chief Administrative Officer (CAO) to consider, in preparing the 2026/2027 Budget and Business Plan, the following reserve contributions:
a) $5 million to the Capital Fund Reserve (Q526); and
b) Allocating all Deed Transfer Tax revenues exceeding $60 million to the Strategic Initiative Capital Reserve (Q666).
5. Direct the CAO to change the name of the Climate Action Tax to Strategic Infrastructure Funding as part of the 2026/27 Budget and Business Planning process.
6. Direct the CAO to consider and prepare the following reserve reallocations as part of the 2026/2027 Budget and Business Plan:
a) Defunding the Master Plan Reserve (Q556) and transferring funds to the Options reserve (Q421); and
b) Defunding the Strategic Initiative Operating Reserve (Q667) and allocating $4.8 million to the Capital Fund Reserve (Q526) and $2 million to the Police Extraordinary Investigation Reserve.
7. Direct the CAO to direct staff to prepare a staff report considering the potential of hiring a consultant to develop a comprehensive forecast of land sales in business parks, including estimates of future sales volumes and market pricing, and return to Audit and Finance Standing Committee.