Coquitlam city hall opened its books this week to show how much money it needs over the next five years for the fast-growing community.

And the list is ambitious.

The proposed 2010-'14 capital plan, which is being presented during a recession and months before city council debates next year's budget, reveals a $196-million strategy for transportation, recreation and utility improvements.

Included in the schedule are:

• $69 million for road rehabilitation, road works in Maillardville and northeast Coquitlam, bike facilities, sidewalks and funding for the city's share of the provincial government's King Edward Overpass project;

• $25 million for the Town Centre firehall expansion, Coquitlam Sports Centre and Spirit Square;

• $24 million for new trails, the Town Centre sports field complex field house, Mackin Park revitalization and park development in northeast Coquitlam; and

• $49 million for utilities for new development in northeast Coquitlam, which is expected to accommodate 20,000 more residents in the next 10 to 15 years.

As well, the city plans to set aside about $9.8 million a year for future asset replacement.

And, at Monday's strategic planning committee, city council looked over a wish list of capital initiatives — not in the capital plan and costing up to $500 million — for such expansion projects as the Evergreen Cultural Centre ($70 million); city hall ($40 million); and the City Centre library ($30 million).

The sneak peek of the five-year capital plan comes as city council juggles with a projected $4 million to $5 million shortfall this year and warnings from the city manager that property taxes could rise another 6.98% next year (this year's increase was 7.4%).

Council has three options, city staff say:

• a status quo budget, accounting for inflation and new — but limited — initiatives, translating into at least a 6.98% property tax hike;

• a "time-out" budget, accounting only for inflation and no new initiatives, meaning a 6.98% tax jump; or

• a "tax-tolerant" budget, meaning service cuts and no new initiatives, translating into a tax rise of less than 6.98%.

Cost drivers for the 2010 budget include contractual and committed increases, totalling $6.6 million, like for labour ($3.1 million); more Mounties ($740,000); and the facility capital program ($950,000).

In addition, the city is on the hook for a $1.7-million payout to IKEA after it successfully appealed its municipal tax levy this year for its business on Lougheed Highway (the company pays about $1.4 million annually in commercial property taxes).

Meanwhile, city council is also expected to debate whether to borrow externally to pay for the hefty capital projects. Financing rates through the Municipal Finance Authority of BC are at a historic low (1.25%) and borrowing would cut tax rates, city staff say. As well, borrowing would allow the city to get a jump-start on capital projects. On the flip side, the city would have to consult residents via a counter-petition or referendum and there is a long-term tax impact.

The preliminary discussions come as city hall braces for a drop in revenues, specifically, in development cost charges, which are anticipated to be $7 million to $9 million short this year alone.

Last month, Mayor Richard Stewart said Coquitlam is in a better financial position than other Metro Vancouver cities and he wants to capitalize on the community's assets to build an economic development strategy. He cited as stimulators the future SkyTrain line to Coquitlam, the expansion of Highway 1 and the Port Mann bridge, a creation of a mobile business-licensing system for tradespeople and the Olympics.

jwarren@tricitynews.com