To the editor:
I am writing regarding Ann Blades’ March 16 letter, headlined Land Value Figures don’t make sense.
The most recent letter from Ann Blades on the Heritage Island exchange cannot be left unchallenged.
She states the “island was bought in 2007 (correct) for $615,000” (wrong).
The island was part of a package acquisition. It appears an estimate of value to the island alone was made at that time by the BC Assessment Authority, which is presumably where Ms. Blades got her information. As buyers, we had no input into that allocation of value by BC Assessment.
She also states the island “was recently listed on “Islands for Sale Registry” for $785,000,” implying we took this step (wrong).
We have never dealt with this “registry,” although we did check it out in response to her letter to you. The “registry” is an Internet site under an umbrella site, called “Overseas Registries.” That site appears to be a self-promoting listing for over-50 “sub-registries,” which seems to republish scavenged information or adverts (authorized or not) from a variety of sources.
Although the island is shown as listed, it was not by our company or with our knowledge or consent.
Any site related to such gems as “Escape and Hide Overseas Registry,” or “Overseas ‘Spice’ Registry,” or “Locked up Abroad Registry” to name a few, should not inspire in a reader any great confidence in the legitimacy or accuracy of included information.
Our company deals only with the local (and reputable) real estate brokers. The island is neither listed nor for sale.
Ms. Blades also purports to have a better opinion of values in the land exchange. She considers her views more accurate than those of a government department, which deals with such matters routinely.
This department, ILMB/MNRO, came to its own conclusions after extensive public and professional input and its proposal was made after MNRO set its own terms of reference using an appraiser approved by them and used by them in the past. The appraisal, and MNRO’s offer, took into account such matters as the cost of rezoning, subdividing, servicing with paved roads, water, and hydro, consultants costs and other standard expenses of development – none of which Ms. Blades seems to think apply. They do apply, are significant and are routinely considered when assessing land values.
The exchange of the island for a parcel Crown land was initiated by us in response to the community wish to recover the island for public ownership. As originally applied for, the exchange was generally supported by the community.
The current exchange area offered is less than half of that under the original application and is an opportunity to finally dispose of the issue of development of the island – now and for the future. It would more than double the overall public reserve in the area and provides a local economic benefit, both immediate and ongoing, to the Bridge Lake area.
And yes, the developer, as with any other development, past or present, in the Bridge Lake area or elsewhere, hopes to make some profit, but pays all the expenses and takes all the risk.
Julian Kenney
Cariboo Heritage Land Developments
