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Originally Posted by You Need a Thneed
This reading is incorrect. The $80 million dollars is the land not currently owned by the city, that the city would be required by the city to purchase in order to own all of the land required to build CalgaryNEXT on. It is not the land value of the land that the city currently owns.
Under alternate WV scenarios, the city liekly doesn't have to buy all of this land (maybe some of it, or can work out a land swap if roads need to be moved)
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I find the way it's written to be confusing...
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2.1 Land Ownership
The City of Calgary owns 79% of the land in the West Village proposed for the site of CalgaryNEXT. The remaining land would have to be acquired. The City currently leases the land it owns in the West Village to tenants including Greyhound Canada, General Supplies Co. Ltd., and Renfrew Chrysler.
The value of the land that CSEC anticipates The City contributing to the project must be included in evaluating the costs of the proposal. For the purposes of evaluating the financial proposal, Administration is estimating the value of the land at $80 million, based on the book value of our current land holdings and an allowance for acquiring the remainder.
It should also be noted that The City of Calgary does not own the land in the Sunalta community CSEC proposed in a CRL boundary as described in Attachment 8. Without acquiring land ownership, The City will not have the ability to manage the redevelopment that a successful CRL would rely on to realize its revenue goals.
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I read that as the $80 million includes the total value of the land the city would be contributing to the project, both what needs to be acquired and what is already owned.