Disposition of Land for Affordable Housing

Posted On: Sep 07, 2023

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Subdivision Plan EPP130290
Subdivision Plan EPP130290

In accordance with sections 24 and 26 of the Community Charter, notice is hereby given that it is the intention of the District of Sicamous to enter into a Purchase and Sale Agreement with the Eagle Valley Senior Citizens Housing Society (EVSCHS) for the disposition of lands outlined in red identified as LOT A (0.405 ha) of Subdivision Plan EPP130290.

The District is contributing the lands to EVSCHS which has partnered with BC Housing to develop 36 units of affordable housing for seniors. To ensure the project is viable, the consideration being received by the District for the property disposition is less than the market value.

Terms of the agreement include:

  • Disposition of Lot A of Subdivision Plan (0.405 ha) to EVSCHS
  • Purchase price of $1.00
  • 21-day closing date after conditions are met or as otherwise mutually agreed
  • Housing Agreement approval, public notification requirements and subdivision approval are conditions which must be met

The District has a 2023 budget of $50,000 to cover all fees associated with the creation of the lot and related sale, which include legal, surveying, subdivision and land title costs.

Under section 483 of the Local Government Act, the District and EVSCHS will enter into a Housing Agreement that outlines terms and conditions related to the occupancy of the housing units. The agreement will be registered on property title as a section 219 covenant under the Land Titles Act.

For additional information and/or inquiries regarding the land disposition, please contact the District’s corporate officer.