“We are looking at all aspects of this deal,' Mayor SImon Yu says.
An internal city review into what went wrong regarding the city’s sale of land located at 4500 Ospika Blvd. to a Vancouver-based developer is ongoing, according to Mayor Simon Yu.
The city has a legal obligation, under the Community Charter, to make sure it informs the public when disposing of a public asset like land, he said. Yu said city council has directed city staff to prepare a report on what happened, and what possible changes are needed to the process going forward.Yu said he and the members of city council are committed to making sure “the process, going from here, is a transparent one,” for the public and developers.
City director of planning and development Deanna Wasnik, said that city administration already modified the original covenant in October 2021, functionally eliminating the requirement for construction to be completed within two years. The amended covenant requires the developer to have begun pouring the foundation within 24 months of the conclusion of the purchase agreement, which they had done prior to stopping construction.
Yu said, as he understands it, while the land was assessed at $682,000 in its 2019 and 2020 by BC Assessment, city staff determined the fair market value at $500,000 because of topographical issues – including a 1.09-hectare ‘no-build’ area on the 2.28 ha lot- and a lack of services. Yu declined to comment on if any city employees lost their job as a result of the internal investigation. When an organization the size of the City of Prince George restructures a department, “that does not necessarily mean we are chopping jobs,” he said.
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