It was revealed that the appraisal of the value of the 69 acres of Hesperia Land was in the hands of most councilors and Coun. Beardsell asked if this document would be made available to the public. The administration answer is that it would in all probability be made available on the City's website and part of a report back to Council after the scheduled meeting of Hesperia next week. It looks like it might be part of the next Council Meeting on Aug. 25
There is no indication of whether this was a market based appraisal or simply one to establish a transfer price of an asset between two related corporations. (An inter company valuation at a low value to avoid any related Provincial fees.) Only time will tell.
In the meantime if we have any developers or real estate people that know what 69 acres of land zoned for a density of 15 units per acre is worth on the open market please feel free to either leave a comment and/or submit a guess in the poll on the right hand side.
For us ordinary people with no current knowledge of land prices I will tell you that I own a 1/2 acre property on the East Hill and the land is assessed at $232,000 making it at $464,000 per acre. (69 acres at that price would be $32 million)
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