Progress Land Development at Blatchford
That Administration provide a report on the progress land development at Blatchford that provides the following:
1. A brief summary of:
a. the goals contained in the Original Business Case and progress to date;
b. all costs incurred since the Blatchford Business Case was approved including but not limited to all consultant costs, personnel costs, and development costs;
c. Summary of all sources of revenue (municipal and private);
the original project schedule, specifically regarding the pace of development and predicted sales by year;
2. A net present value analysis of projected land net sales revenue versus property tax revenues:
a. using the current development model;
b. Employing a different model that sets land sale values at minimum suburban development values.
3. An analysis of potential development options that could see faster realization and maximization of lot sales revenue, including options for additional partnerships with private sector entities to develop some or all of the remaining undeveloped land, while maintaining current density, energy, sustainability and green building requirements.
Due Date: September 28, 2022, Executive Committee