New Westminster gets $30M in pier fire settlement, seeks Indigenous collaboration on rebuilding
CTV
New Westminster city council will hold a workshop Monday to discuss the future of the city's riverfront, more than three years after a massive fire destroyed the former pier and much of the park surrounding it.
New Westminster city council will hold a workshop Monday to discuss the future of the city's riverfront, more than three years after a massive fire destroyed the former pier and much of the park surrounding it.
The fire burned for more than 10 days in September 2020, destroying the well-known "W" art installation. A suspect was charged with arson, but died before he could be tried for the crime.
Westminster Pier Park reopened in April 2021, but much of the former waterfront space is no longer accessible due to the loss of the pier itself.
Monday's meeting is part of planning for "a future riverfront project that is consistent with the city's reconciliation goals," according to a staff report.
The city has agreed to a $30 million insurance settlement for the loss of the pier. It intends to place the money in a reserve fund "to ensure transparency in financial reporting" and to allow any interest that accumulates to be allocated back into the reserve.
After accounting for the cleanup costs already incurred, the city expects to have roughly $22 million in the settlement reserve to support "projects or initiatives for the community's benefit," according to a previous staff report from the council's Oct. 16 meeting.
"As the city advances discussions with our partners to determine the best course of action for the riverfront, the financial outlook and information will vary accordingly," that report reads.
