A Vernon councillor says now is not the time to be considering a beautification project. Council will discuss spending $500,000 to relocate overhead utility lines at the city owned Coldstream Hotel site on 31st Avenue, to make it more attractive to developers. The city will seek a third of the cost from a BC Hydro grant, but councillor Bob Spiers is against the idea altogether. "We got a $500,000 cost on a beautification program. We've got bigger priorities than that. I'd rather not even waste the time to apply for the (Hydro) grant." Councillor Juliette Cunningham says applying for the grant won't commit them to the project. "An item around $500,000 is a huge tax hit for our taxpayers, and I would like to have the opportunity to debate that, and not commit ourselves." The debate will take place in October, when all council members are present. Mayor Rob Sawatzky and councillor Catherine Lord are at the UBCM convention this week. A city staff report says the project could increase the value of the land, to 4.3 million dollars. "Current value of the Coldstream Hotel lot is estimated to increase by up to $1.43 million to a value of $4.3 million for the entire property upon completion of the relocation works and sale and consolidation of the lanes into the existing city lots," states the report. The site was purchased for 2.8 million in 2004, and is worth an estimated $2.87 million now. It's currently used for a 128 space parking lot.
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- Agenda Package
(p.160-170) RELOCATING UTILITIES THROUGH 2901, 2905 AND 2917 31 AVENUE, 2900 AND 2910 32 AVENUE, (COLDSTREAM HOTEL LOT)
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