The District of Metchosin Council has authorized the Mayor, to release in-camera information related to the community members proposal and offer to purchase 4460 Happy Valley Road for Seniors’ housing.
“Council appreciates the efforts of community members. A group of citizens asked for a meeting with Council in July 2023 to discuss the acquisition of the property at 4460 Happy Valley road for seniors’ housing. The group had been unable to secure private investors for the acquisition and requested that the District of Metchosin take over the terms of purchasing the land for a community initiative. The property at 4460 Happy Valley Road is within the Agricultural Land Reserve (ALR) and any changes to the zoning would require approval from the Agricultural Land Commission. The asking price for the property is $1.8 million. Currently, there are three properties for sale near the Village Centre.
Council members are stewards of public money; therefore, wise decisions regarding financial matters are within the broad public interest. The district is not currently in a financial position to acquire the property and there is no specified reserve for Land Acquisition. If the district wanted to borrow money for acquisition of this property, it would require electoral approval. There are legislative requirements that the district must take for borrowing funds for property acquisition including approval by the Inspector of Municipalities. This process could take up to six months’ time. Neither a business plan nor a financial model was presented by the group. Any proposed business case would have to be evaluated along with other priorities identified within the Strategic Plan.”