Distributed May 5, 2016 2:30 PM
City Transfers Land to Nanaimo Aboriginal Centre Society
At the In Camera meeting on April 4, 2016, Council approved, in principle, the sale of 1406 Bowen Road to the Nanaimo Aboriginal Centre (NAC) for $1 to facilitate the creation of a affordable rental housing project that will support urban aboriginals living off Reserve in Nanaimo.
NAC will leverage the City's contribution of the land to secure funding from BC Housing to fund the construction of the rental facility.
Council will be asked to approve the sale at the May 16, 2016 Council meeting.
Strategic Link: Taking Responsibility to be an excellent Municipal Government - Continuing to facilitate change and overall development. Asset Management - disposing of surplus City assets.
- 1406 Bowen Road is a 0.4 hectare (1 acre) City-owned parcel located near the Millstone River. The site is fully serviced and has access through a laneway from White Street
- A City-owned property at 1406 Bowen Road will be transferred to the Nanaimo Aboriginal Centre for $1. The property has a value of $468,000 according to BC Assessment.
- Nanaimo Aboriginal Centre will sign a repurchase agreement which will enable the City to purchase the property for $1 if construction has not started by April 4, 2019.