City hall urged to give The Forks extension on deadline for developing Parcel 4

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This article was published 08/07/2015 (3747 days ago), so information in it may no longer be current.

City hall is being encouraged to give The Forks another year to secure matching provincial and federal funds for its ambitious development of the last remaining vacant property on the site.

City council last year agreed to turn over ownership of a gravel parking lot adjacent to William Stephenson Way, once considered for a controversial hotel and waterpark, to The Forks on condition it secure matching funds from the province and Ottawa within a year.

An administrative report to today’s executive policy committee meeting says that one-year period is just about up but The Forks hasn’t secured the matching funding from either level of government.

The Forks plans to redevelop the gravel lot, known as Parcel 4, and its own Rail Side property into a mixed-use development including residential highrise buildings, two parkades, a tiered park and an urban plaza.

The Forks hopes the private sector will invest $200 million into the scheme.

Council agreed to declare the Parcel 4 lands – valued at $6 million – surplus and turn over ownership to The Forks on condition that Ottawa and the province provide matching levels of financial contributions to the project.

The report says The Forks is still finalizing its concept plans and business case. The administration recommends The Forks be given a year’s extension to finish its preparatory work and line up additional government funding.

There’s a heavy agenda on EPC this morning. In addition to the Parcel 4 issue, councillors will consider endorsing the pedestrian and cycling strategy and the request from Sport Manitoba to waive all development fees for its fieldhouse project – estimated to cost city hall $430,000.

 

aldo.santin@freepress.mb.ca