Richmond city revenues dropping amid COVID-19 crisis

The impact of the COVID-19 pandemic on business is obvious in the streets of Richmond with many sectors paralyzed, but the crisis is also taking a toll on municipal revenues.

Civic facilities like pools, arenas, the Oval and community centres remain closed with no revenue from programs, but other sectors, like gaming and tourism, could also have an impact on the city’s bottom line.

Nevertheless, Richmond Mayor Malcolm Brodie said, despite not knowing what the “total picture” will be, he’s confident the city will manage if the crisis continues for two to three months or even longer.

“I think we have the resources to weather the storm – depending on a lot of things, including how long it goes on,” he said.

But much will depend on what tools the province gives the city, for example, running a deficit, borrowing or dipping into reserves, he said.

“The biggest single factor we’re looking towards is exactly what is the approach of the province,” Brodie added. …

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