Coun. Kyle Sampson wants the city to sell some of the property it has.
He has presented a notice of motion to council seeking administration to compile a list, by June 10, of 10 properties that have existing buildings or structures that could be sold to the current tenants or sold for development. He also wants administration to compile a list of 10 undeveloped, or under-developed properties that could be sold.
Sampson says it has been noted by administration that the city owns a number of high-value properties as well as a “number of which require a large amount of financial assistance which is not offset by the revenues of usage or tenancy.”
He says selling the properties would garner revenue for the city.
Once the lists are compiled, Sampson proposes council develop a building and land asset policy which dictate how revenues from the sale of land could be used to help pay for capital assets.
“My goal is to source opportunities for revenue generation, while removing burdensome processes of land management from administration,” he posted on his Facebook page. “Ultimately, the sale of land and building assets will produce a stronger financial position for the city.”
The actual motion will come before council at it’s May 13 meeting.