City of Kelowna Makes Big Purchase
City buys $11M property
The City of Kelowna has forked over $11 million for 140 acres of property on Highway 97N.
The property is situated on either side of the highway, near the airport.
A news release from the city suggests the land is home to several natural features, most notably, Carney Pond and surrounding wetlands.
“As our city continues to grow, large parcels of land give us the flexibility to meet future community needs,” said Mayor Colin Basran.
“The property is close to the university campus, the city landfill and the international airport and has features that could help with flood protection.”
The city maintains key parcels of land such as this helps to balance the needs of the community with both environmental protection and agricultural opportunities.
“The city is committed to working with the Agricultural Land Commission to identify opportunities to improve agriculture as outlined in the city’s Agricultural Plan,” said director of strategic investments Derek Edstrom.
“The land in this case could also create new public spaces, fulfill civic needs, provide drainage solutions for nearby creeks and facilitate key transportation networks including connections for Hollywood Road North and the Central Okanagan Multi-Modal Corridor.”
The city utilized reserve fund for the acquisition. There is no direct impact on taxation.
Thanks to Castanet: https://www.castanet.net/news/Kelowna/203512/City-buys-11M-property