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Sale of current municipal building funds new offices



By Mark Pavilons

As work on King Township's new municipal office building progresses, council has set in motion the plan to sell the current property off of Banner Lane in King City.

Councillors approved staff recommendations which declared the lands surplus. A call for proposals will be made early in 2017.

The Township will look after the sale and marketing itself, saving money.

There are several conditions attached to the sale and these include a 10% deposit of the bid; buying the property “as is;” a commitment to the current lease agreements on the property and allowing the Township to remain in their offices rent free until they move to the new complex, estimated in the spring of 2018.

The proceeds from this sale make up the main source of funding for the new offices.

Staff, back in August, went ahead with a zoning bylaw amendment for the current property. This will allow redevelopment of the strip plaza for mixed uses, including residential and commercial. This will make the property more attractive to potential buyers and also achieve some objectives for the King City core area. The zoning amendment, staff noted, is now in effect.

 

 

Excerpt: As work on King Township’s new municipal office building progresses, council has set in motion the plan to sell the current property off of Banner Lane in King City.


Post date: 2017-01-11 09:45:33
Post date GMT: 2017-01-11 14:45:33
Post modified date: 2017-01-18 09:22:16
Post modified date GMT: 2017-01-18 14:22:16

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