TAMRMS#: B06
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Employment Lands Appraisal
Presented by: Joan Barber, Interim Director Economic Development Services
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RECOMMENDATION(S)
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That the confidential appraisal for City-owned lands, 57 City Annex West (79.83 acres) and 58 City Annex (90.43 acres) located within the Lakeview Business District, (formerly known as the Employment Lands) as outlined in the confidential attachment entitled “Confidential Land Appraisal, Bourgeois Chin Associates” to the report entitled “Employment Lands Appraisal” be received for information.
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PURPOSE OF REPORT
The purpose of this report is to provide Council with an updated appraisal of the City-owned portion of the Lakeview Business District and the size, number of parcels and locations of land (within the City-owned lands) for future municipal needs.
COUNCIL DIRECTION
On January 23, 2017 Council passed the following motion:
CM-17-006
That Administration provide Council the land size, probable locations, and municipal assignments of land required for future needs on the City-owned portion of the Employment Lands and that up to $3,500 from the stabilization reserve is approved for the City to contract an appraisal of each of the City-owned parcels in the Employment Lands, after the municipal needs assigned land is removed.
BACKGROUND AND DISCUSSION
In 2014, Administration purchased two pieces of land in the area that was previously referred to as the Employment Lands. The two parcels are identified as 57 City Annex West (79.83 acres) and 58 City Annex 58 (90.43 acres). The lands were purchased to support economic development initiatives as well addressing future community land needs.
Appraisal of Lands
In, June 2017, Administration hired Bourgeois Chin Associates to appraise the lands. The confidential land appraisal is attached for your information.
Possible City Required Parcels and Locations
When the Notice of Motion was received at the January 23, 2017 Council meeting:
The...
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