Prince George will be creating a list of city-owned properties that would be viable to potentially sell in the future.
This comes after council voted to approve a notice motion introduced by Coun. Kyle Sampson.
In his motion, Sampson explains the city is currently holding a number of high-value properties, as well as a number of properties which require a large amount of financial assistance which are not offset by the revenues of usage or tenancy.
“I believe this has the potential to help mitigate the tax burden on our residents,” said Sampson as his motion came up for discussion during Monday night’s (May 13) regular council meeting. “High-value properties available to our investors can help diversify our economy.”
He says the sale of these properties can create a net positive impact on the overall budget, as well as increase available property for commercial and residential development and usage.
“It would be a great opportunity as a first-year councillor as well to see what we have out there and to learn about the properties we are holding onto, whether they are utilized with a building or not, what our tenancy situation looks like,” said Sampson.
My goal is to source opportunities for revenue generation, while removing burdensome processes of land management from Administration. Ultimately, the sale of land assets will produce a stronger financial position for the City. pic.twitter.com/NBLO9mJdQB— Kyle Sampson (@SampsonKyle) April 25, 2019
His motion directs city staff to create a list of a minimum of 10 underdeveloped and developed city owned properties that can, or should be, sold to the current tenant, or for future development.
“We are not looking to push anybody out, we are just looking at the properties we have and how we are managing them, what they are costing us and how we can help our tenants become more financially independent,” said Sampson.
Money from the sale of any city-owned properties would go into the city’s land development reserve. However, Sampson clarified that the intent of the motion is to gain information and not to sell properties out from under any of the tenants’ feet.
“I too will support this, I think a big chunk of this work is already on staff’s radar and some of this also occurs every year when we talk about budgets,” said Coun. Terri McConnachie. “Also want to express value to supporting Coun. Sampson so this information is all in one place so that discussion can take place.”
The motion was passed unanimously by council, with an amendment that the list is returned to council for the July 15 regular council meeting.