A publicly owned agency promoting development is on hold but it won’t be abandoned.
Vernon council has decided the Hesperia Development Corporation doesn’t currently need to be active, but the goal is to reactivate the service in the future.
“We want to keep the corporation because this is a big city asset,” said Coun. Mary-Jo O’Keefe.
The corporation was created in 2007 to prepare 69-acres of city-owned land near Longacre Drive for private-sector attainable housing.
Except for servicing the site, the corporation’s activities ceased in late 2010 because of a decline in construction and an increased availability of housing in the community.
Hesperia promoting 1,000 units of attainable housing on 69 acres of city-owned land near Longacre Drive.
O’Keefe insists the issue of attainable housing will resurface once the economy improves and as a result, there is a need to maintain the corporation.
“We have to make sure we wait until land prices increase so we get a maximum return on the investment we’ve made,” she said of extending services there.
It’s not known when the corporation may become fully functioning again.
“There would be no need to do anything possibly for three or four years,” said Coun. Brian Quiring.
With the corporation on hold, the city will be responsible for any costs associated with Hesperia. That drew opposition from Coun. Bob Spiers.
“They are an arm’s-length corporation,” he said. “If we take it over until times get better, it seems iffy legally.”
