Squamish Rejects $142M Community Enhancement Deal for Woodfibre LNG

The District of Squamish rejected a proposed community enhancement payment agreement (CEPA) and revitalized tax exemption (RTE) for Woodfibre LNG. The deal, which was voted on during a special business meeting on September 22, would have seen Woodfibre LNG contribute at least $142 million over 10 years. If approved, $117 million would have been allocated to community projects, including flood protection and transportation upgrades.

The rejection means the District of Squamish will continue to rely on regular property taxation for the Woodfibre LNG property. The agreement would have also resulted in the resolution of three existing lawsuits filed by Woodfibre LNG against the district regarding taxation.