City finishes Powell River Waterfront Development corporation lands purchase
Photo of Powell River City Hall,( supplied by the City of Powell River)
The Powell River Waterfront Development corporation lands purchase has wrapped up.
That means the city is now moving on to public consultation. The purchase includes 80 acres in what is formerly called the old golf course lands and 100 acres on the northern boundary of the municipality bordering Tla’amin Nation.
“The transfer of ownership has been completed,” said Mayor Dave Formosa. “There is no better investment for our citizens than in land and the completion of this deal provides a great opportunity for the future development of the City. I’m looking forward to engaging with citizens to hear their ideas for the future of these valuable properties.”
The city won’t be making the lands available for sale until the public consultation on its future development is finished. Dates for the consultation have yet to be set.
The community engagement is part of the Official Community Plan refresh that the City will be starting work on later this year or next. Back in March, a deal fell through that would have seen Sino Bright Investments buy 10 acres of the former golf course lands.
Sino Bright was planning to build an international school there. Council decided it was in the best interest of the public to buy instead and take 100 per cent control after feedback from the community.
“There was a great public discussion after the Sino Bright deal fell through. The sentiment from some citizens in the community was that they weren’t involved. This time, I assure those citizens they will have the opportunity to be heard,” said Formosa. “Now that we’ve bought these lands, there will be full public participation to help answer the question, what are going to do with these properties?”
The cost of the purchase was $1,380,000 which is included in the 2019 financial plan. To pay for the land, the City is borrowing $1.2 million from Municipal Finance Authority of BC, $68,961 from the land sale reserve and $173,794 from the parkland reserve. In August 2018, the properties were appraised at $2.16 million.