In a bid to bolster city coffers, Colwood is sending out feelers to gauge interest in the possible sale or lease of a municipal tract of land.
The four-hectare parcel, which straddles Metchosin Road south of Latoria Road in Royal Bay, could be made available if a deal comes in that is sweet enough.
B次元官网网址淨uite frankly this is exploratory,B次元官网网址� said Ross McPhee, ColwoodB次元官网网址檚 chief administrative officer. B次元官网网址淐ouncil wanted to find out if they could do something better (with the land).B次元官网网址�
Issuing the request for proposals was prompted after parties, including the Capital Regional District, recently expressed some interest in the surplus land, said Mayor Dave Saunders.
In the past, the CRD indicated the Royal Bay area would be suitable for a sewage treatment plant, although that is not part of its current planning.
Fiscal opportunity is the primary reason why the municipality would even consider selling all or possibly part of the unserviced lot, the mayor said.
B次元官网网址淚 donB次元官网网址檛 feel itB次元官网网址檚 a good time to sell property,B次元官网网址� Saunders said. B次元官网网址淚t would have to be a good deal.B次元官网网址�
Any money generated would replenish the CityB次元官网网址檚 general reserve fund and even provide a surplus, the mayor added.
B次元官网网址淲eB次元官网网址檙e in fairly restricted financial circumstances,B次元官网网址� McPhee said, but not to the extent that a sale is urgent. B次元官网网址淎re we really in a situation where we must sell? No. WeB次元官网网址檙e just looking at all possibilities.B次元官网网址�
Colwood hasnB次元官网网址檛 had the tract appraised, however, the enormous mounds of stone, rock and sand currently stored on the site were valued at $1 million last year.
In addition to the land, the municipality is looking to sell some of the fill but keep a supply on hand for use by its public works department for road surfacing and stormwater projects, for example.
B次元官网网址淏asically itB次元官网网址檚 like money in the bank,B次元官网网址� Saunders said of the stockpile of fill, adding that the City is interested in seeing whether or not there is interest in the acquisition of either all or some of the land, the fill or both.
The request for proposals was first advertised last week. Interested buyers have until Feb. 11 to submit paperwork, a deadline that could be extended if strong suitors need more time for research, said McPhee.
The idea of selling fill was bandied about in March 2010, coinciding with a looming tax hike in support of core services.
The chunk of land that potentially is up for grabs is the largest block of available land Colwood has in its inventory, and is currently zoned rural residential.
Following the proposal deadline, staff will prepare a report for council for early March, McPhee said.
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