Steven Hill
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The District of Squamish is looking to borrow $2.7 million to buy the former Squamish Forest District Office and land.
Squamish council voted Jan. 10 to approve first three readings of a bylaw to borrow $2,772,668.00 by way of debenture to buy the property on Loggers Lane, directly opposite Brennan Park Recreation Centre.
"The owner of the building [BC Buildings Corporation] sees it as surplus property and wants to sell it," explained acting mayor Corinne Lonsdale Thursday (Jan. 19). "They gave us the opportunity to see if we were interested in it - and we are."
Lonsdale said it made sense to invest in land in the area.
"At this point in time, Squamish is growing and we are going to need more room for our municipal facilities whether it is a public works yard or additions to playing fields, administrative facilities - who knows what our needs will be?," she said. "We as a district are land poor in comparison to other municipalities.
"We don't have a lot of land," she said. "That piece of land is very strategic to Brennan Park and even to the Public Works yard. It is all very close together."
She said council looked at whether or not the purchase was viable before proceeding.
"We looked at how much it will cost versus the return we will get on it over the years," she said. "Can we afford it and does it make sense? Council believes it does make good sense and we are moving forward."
Lonsdale said those people who already work out of the buildings on the land, such as the Ministry of Forests, Sea to Sky University and Ministry of Transportation, would continue to do so.
"There are leases in that building and they will continue," she said. "Those people will stay in that building. We are comfortable that the income from those leases will cover the debt."
The proposed bylaw enabling the district to borrow the money for the purchase is currently undergoing a counterpetition process.
Anyone wishing to petition against the bylaw (No. 1917) must do so in writing on or before Feb. 27, 2006 at 4:30 p.m. at Municipal Hall.If more than 10 per cent of the electorate (about 1,044 people) respond against the undertaking, council won't be able to proceed with the bylaw and subsequent purchase.
If less than 10 per cent respond, the bylaw can then be given final approval by council anytime after Feb. 27.
