City of Powell River council has announced it is contemplating the purchase of a 132-acre parcel of land adjacent to Millennium Park in Lot 450.
The announcement comes after a special finance committee meeting on Tuesday, April 25.
The parcel of land previously had an offer from Sino Bright School on it, but since that deal fell through the city wants to control it directly, according to chief administrative officer Mac Fraser.
“We want to have outright ownership to ensure the land's stewardship,” said Fraser.
The proposed purchase price from PRSC, a shared corporation owned by Powell River Waterfront Development Corporation and Tla’amin Nation, is $800,000.
The cost to taxpayers would be $160,000 plus interest per year for five years, which is conditional on financing that can’t be confirmed until the city’s budget is approved, according to Fraser. He said the budget is on track to being approved before May 15.
"The process isn’t complete, but when all of the members of council sit on the finance committee and make a recommendation, it’s pretty obvious what their desire is,” said Fraser.
He said the committee has unanimously forwarded the purchase reports to council for its Thursday, May 4, meeting.
“We need a couple of sittings for all of the readings to happen for that budget and, upon that budget being approved, a part of it is the confirmation of the financing for the land, and then the deal will be completed,” said Fraser.
If purchased, the city would own the land with Island Timberlands maintaining ownership of the trees.
