It turns out that a cash-in-lieu of parkland offer for the Reid’s Heritage Lake development is reasonable after all.
In January, Puslinch councillors reviewed an appraisal by Edward C. Kennedy and Associates on behalf of proponent Reid’s Heritage Homes. They opined the offer of $239,250 was too low, and suggested the township get its own appraisal.
But recently, Steve Irwin, of S.W. Irwin and Associates Ltd. in Guelph, the firm hired by the township to look into the matter, agreed with the findings of the earlier Kennedy and Associates appraisal.
“From my past experience, cash in lieu for parkland is to be based on land valuation, which is one day before the site plan is approved,” Irvine said in his report to council.
“Site coverage or number of units per acre is not considered, as it is part of the site plan approval process.” Irvine said he finds “the valuation reasonable.”
Councillor Dick Visser said he thought the original appraisal was low, but council can’t argue with an independent appraiser.
Clerk Brenda Law said representatives from Reid’s will likely be coming back to the township soon to provide an update, but in the meantime she would tell them the previous cash in lieu figure is acceptable.
Later in the meeting, Law noted Reid’s will be responsible for paying the township’s $393 bill for the second appraisal.The developer has proposed a 75-unit plan of condominium on 229 acres – formerly a gravel pit – on the south side of County Road 34, near the corner of Highway 6 and Highway 401. About a quarter of the property is “developable” and thus subject to cash-in-lieu of parkland payments.
