It has been a while since I communicated the progress of the project. We have been busy setting up the office and organizing ourselves. The Board of Directors meets every couple of weeks and has been moving forward the plans that will see the creation of an extraordinary waterfront live/work/recreate neighbourhood as envisioned in the community's Concept Plan.
Our office is in the old Administration Building on the site and everyone is welcome to drop in to see us. I am pleased to announce the hiring of local resident Destiny Merkl as our Office Administrator. Destiny and I are the only employees of the Squamish Oceanfront Development Corporation at this point. I plan to keep the organization small and efficient, optimizing value to the shareholder and thus the community.
Some people are not aware that the Squamish Oceanfront Development Corporation is a private company, incorporated by the District of Squamish. Our sole shareholder is the District of Squamish. Profits arising from the development of the land will be paid to the shareholder (District) via dividends, which will then be available to be re-invested in the community. We believe this is an excellent model that uses private sector efficiencies to optimize returns to the community. An appreciation of the corporate structure is key to the success of this project for the community. The community is in a position to reap the benefits of this project, both financially and socially, but must also be aware that there are risks associated with land development. The decisions we make together will influence the success of this project.
Over the last four months, the SODC has made much progress on the Waterfront Concept Plan. We are in the process of creating a master plan, in order to test some of the uses/concepts/assumptions and layouts to see whether or not they are viable. With the assistance of technical experts we are examining in detail some of the possible development constraints, such as geotechnical, environmental, transportation, etc. that are key to understand before confirming a layout. Once the detailed review is complete we will share these findings with the community so that you are fully aware of these issues as we go forward together and design your newest neighbourhood.
The next phase of the master plan will develop options for the optimized/ revised/constrained layout and then test them with all concerned. We are excited about informed community participation to make this development the signature of a renewed revitalized Squamish. Throughout this exercise, we look at the costs and revenues of the project, and balance these with elements in the design.
The preferred option then is taken through finalization drawings and reports. These are to be completed by Jan. 31, 2006. The master plan will be used as the basis for rezoning all the lands on the peninsula. We hope we are able to achieve rezoning of the first phase of the lands by August 2006, and infrastructure construction in that area shortly thereafter.
We are developing means in which to keep you more informed about the development, including our web page. Please keep checking the website at www.squamishoceanfront.com for progress in this regard.
Mike Chin is the CEO of the Squamish Oceanfront Development Corporation
