Next week the three main committees of City Council – Executive, Administration & Finance, and Planning and Operations – will meet to discuss a range of items.
The following is a summary of the highlights from the Executive Committee agenda (available HERE):
Executive:
1. Gordie Howe Bowl Upgrades:
The committee will consider at report by administration suggesting that they create a foundation that would be tasked with fundraising a majority of the $9.8 million in upgrades planned for Gordie Howe Bowl. In addition, they will be asked to approve an expenditure of $45,000 towards the hiring of an administrator of that foundation, with the money to be paid back from the funds raised by the foundation. Finally, they will be asked to approve that a request for $600,000 be forwarded to the 2013 budget deliberations for initial funding of the upgrade project.
2. Public Beach:
A report to the committee recommends that a public beach not be established on the S. Saskatchewan River, just north of the Train Bridge. As many are well aware, the sandbar deposited last year after the high river waters receded became a defacto beach with hundreds of residents flocking to sunbath and even swim from its shores – despite being technically illegal. The report suggests that signs be posted warning against swimming in the river due to fast currents and a strong undertow. However, it also recommends that garbage bins be provided. Finally, it suggests that parking restrictions in place in the area be communicated to those using the beach.
3. Pleasant Hill Redevelopment:
As I outlined in a previous post (HERE) – the City has owned 18 units built during the first phase of the neighbourhood redevelopment since December 2010, after having agreed to purchase them at a set cost from the builders if they did not sell in the first 6 months. 4 of the units did sell at the set prices (between $190 and 240K); however, 14 units still remain in the city’s possession. Earlier this year, the mortgage insurance required to allow potential buyers to only pay a 5% down-payment was removed by CMHC, meaning prospective buyers would need to provide a 20% down-payment.
Since then, City Administration has been working on a way to unload the homes while still recouping their costs from their original purchase in December 2010 – at no point did they attempt to lower the asking prices on the open market.
In a report to Executive, the administration is now recommending that the City provide a 9.99% sales incentive to prospective buyers (i.e. they would pay a portion of the 20% down-payment in a form of a grant) – for a total cost of just under $300K to the City. It is currently costing the city $40K per year to own the unoccupied homes.