The Town of Qualicum Beach council will get an independent review done on the appraisal of the property being primed for a proposed 16-parcel subdivision.
An application to amend the Official Community Plan and zoning to allow the subdivision development (located along portions of the Island Highway and Eaglecrest Drive) to proceed was up for third reading but was deferred by council at its regular meeting on Feb. 24, after Coun. Teunis Westbroek made a successful motion to get a second evaluation done on the appraised value of the property.
The land is designated as Estate Residential under the OCP and is located outside the Urban Containment Boundary. The appraised value of the property under its current zoning is $640,000. If its gets rezoned, the property value goes up to $1,600,000. The land lift will be $960,000. Fifty per cent of the land lift value will be donated to the town as amenity contribution totalling $480,000.
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Westbroek questioned how the appraised value of the subject land could be higher than two nearby properties that are already developed. He felt the two properties are worth twice as much.
“The fact that these assessments of these two properties that are part of the whole property are worth less than the property that has no opportunities for development, doesn’t have the views and anything like that, I think we need to take another look at this,” Westbroek said. “There was also a number of what they call indicators or comparables. Those comparables are compared like apples and oranges.”
Westbroek wanted an independent review done and for the town to subsidize it because he wants council to be able to be involved with the process.
Westbroek’s motion passed with Coun. Robert Filmer opposed, as he did not agree the town should pay for the review.
