A policy to pursue the highest and best uses for vacant city-owned properties isn't about to set off a fire sale of Port Moody's public assets but it will help ensure residents are getting the best deal possible, said its proponent.
Coun. Meghan Lahti's motion drew several concerned residents to Tuesday's council meeting, many of whom feared it meant certain properties would be sold off to make way for highrises instead of important civic amenities like a seniors facility or new library.
Some called the proposed policy "dangerous and shortsighted" while others suggested it posed a threat to the environment and the city's overall livability.
But former councillors Ann Hulbert and Karen Rockwell said the policy would be "prudent and fiscally responsible" as council works to ensure the city remains financially sustainable for the long term.
Lahti's proposal called for vacant or underdeveloped publicly owned property to be designated for the highest and best use, with lower uses considered based on environmental considerations, property size and location, physical site characteristics, the feasibility of servicing the land and the surrounding land uses.
Coun. Rick Glumac initially opposed the policy, saying he believed it was unnecessary because councillors already consider such factors when making land use decisions and the reference to higher and lower uses implied a strictly financial motive. He later voted in favour of the proposal.
But Lahti and Coun. Diana Dilworth recalled the city sacrificing what would likely have been a $100-million pay-off to develop a large swath of the north shore for single-family housing, choosing instead to create Bert Flinn Park because that was deemed the "highest and best use" for that land.
"I'm talking about making sure we create opportunities to ensure we are getting the best deal for the city as possible, and recognizing that our property is a valuable asset to us," Lahti said. "It's not just about money for the taxpayer — there are all sorts of other types of value. Decisions we've made in the past clearly show that we're not always just talking about the money."
She noted the city is facing some $30 million in infrastructure costs with no means of paying for it and Port Moody will need to find creative ways of funding such projects while being cognizant of its already high taxes.
Council voted unanimously in favour of having staff draft a corporate policy for future review (Coun. Zoe Royer was absent).
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