Post by Max on Dec 5, 2007 20:42:26 GMT -3
Posted By Denis St. Pierre/The Sudbury Star
Posted 2 hours ago
The City of Greater Sudbury, which owns hundreds of vacant or underused properties as a result of the 2001 municipal amalgamation process, earned nearly $900,000 from land sales over the last year.
A total of 25 municipally owned properties were sold since last November, raising net proceeds of $898,400, according to a report reviewed Tuesday by city council's planning committee.
The property sales revenues ranged in net value from $520 for a piece of vacant land on Cross Street in Sudbury, to $111,000 for a property at 143 Lasalle Blvd., to $120,000 for a site in the Valley East Industrial Park.
The revenue from property sales is distributed to various areas of the city's operations. For example, $352,560 in net revenue was generated from land sales in the city's industrial parks this year. According to city policy, that revenue is directed to the Greater Sudbury Development Corporation, which is responsible for industrial parks and other economic-development programs.
The remaining $545,000 in net revenues from property sales will be divided between the city's general revenue fund and reserves funds for uses such as parks projects.
The city also spent more than $570,000 to purchase 29 different properties this year. Nearly all of the acquisitions were made for land requirements of current or future road projects.
The cost of individual property acquisitions ranged from a $2 deal as part of a cul-de-sac project off Main Street in Val Caron, to the $105,000 purchase of vacant land on the Kingsway, need for road expansion.
The most-valuable property obtained by the city this year, however, was the former Xstrata Nickel administration building on Lindsley Street in Falconbridge. Xstrata donated the building, valued at $550,000, to the city, along with $110,000 in cash for renovation needs. The city plans to use the building as its first municipal archives facility.
A look at the city's real estate transactions over the last year:
Properties sold (price indicates net proceeds after sale-related expenses): - Coniston Communication Tower (off Aubrey Ave.), $9,664 - Vincent St., Sudbury (vacant), $1,265 - 191 Church St., Garson, $76,805 - 143 Lasalle Blvd., Sudbury, $110,996 - Edward Ave., Coniston (vacant), $1,363 - Part of 560 Falconbridge Rd. (water tank), $3,629 - Young St., Capreol (vacant), $4,868 - Oak St., Capreol (vacant), $16,772 - Oak St., Capreol (vacant), $16,772 - Oak St., Capreol (vacant), $16,741 - Oak St., Capreol (vacant), $33,544 - Oak St., Capreol (vacant), $17,747 - 191 Ray St., Wahnapitae (vacant), $11,112 - 201 Ray St., Wahnapitae (vacant), $8,612 - Woodbine Ave., Sudbury (vacant), $5,858 - Percy Ave., Val Caron (vacant), $15,727 - Part of closed lane west of Aubrey St., Coniston, $2,264 - 441 MacLennan Dr., Skead (vacant), $35,574 - Hillcrest Dr., Lively (vacant), $2,142 - Howey Dr., Sudbury (vacant), $1,586 - 40 Kiandra Ct., Sudbury (vacant), $84,272 - Fourth Ave., Sudbury (vacant), $7,428 - Cross St., Sudbury (vacant), $520 - Spruce St., Sudbury (vacant), $1,654 - Old Falconbridge Rd., Sudbury (vacant), $58,916 - Belisle Dr., Valley East Industrial Park, $19,885 - Belisle Dr., Valley East Industrial Park, $19,885 - Lamondin St., Valley East Industrial Park, $119,724 - Mumford Dr., Walden Industrial Park, $59,714 - Magill St., Walden Industrial Park, $118,350 - Regional Rd. 84, Capreol Industrial Park, $15,000 - 2007 net property sale revenue, $898,400 Properties acquired in 2007 - Part of 1870 Paris St., Sudbury (vacant), $5,130 - Part of 1178 Falconbridge Rd., Sudbury, $26,500 - Part of 1276 Lasalle Blvd., Sudbury (vacant), $100 - Part of 74 Indian Rd., Sudbury, $6,200 - Part of 2037 Long Lake Rd., Sudbury (vacant), $350 - Part of 71 Lasalle Blvd., Sudbury (vacant), $7,890 - Linden Rd. at Mun. Rd. 84, Val Caron (vacant), $1,000 - Part of 2231 Lasalle Blvd., S
Posted 2 hours ago
The City of Greater Sudbury, which owns hundreds of vacant or underused properties as a result of the 2001 municipal amalgamation process, earned nearly $900,000 from land sales over the last year.
A total of 25 municipally owned properties were sold since last November, raising net proceeds of $898,400, according to a report reviewed Tuesday by city council's planning committee.
The property sales revenues ranged in net value from $520 for a piece of vacant land on Cross Street in Sudbury, to $111,000 for a property at 143 Lasalle Blvd., to $120,000 for a site in the Valley East Industrial Park.
The revenue from property sales is distributed to various areas of the city's operations. For example, $352,560 in net revenue was generated from land sales in the city's industrial parks this year. According to city policy, that revenue is directed to the Greater Sudbury Development Corporation, which is responsible for industrial parks and other economic-development programs.
The remaining $545,000 in net revenues from property sales will be divided between the city's general revenue fund and reserves funds for uses such as parks projects.
The city also spent more than $570,000 to purchase 29 different properties this year. Nearly all of the acquisitions were made for land requirements of current or future road projects.
The cost of individual property acquisitions ranged from a $2 deal as part of a cul-de-sac project off Main Street in Val Caron, to the $105,000 purchase of vacant land on the Kingsway, need for road expansion.
The most-valuable property obtained by the city this year, however, was the former Xstrata Nickel administration building on Lindsley Street in Falconbridge. Xstrata donated the building, valued at $550,000, to the city, along with $110,000 in cash for renovation needs. The city plans to use the building as its first municipal archives facility.
A look at the city's real estate transactions over the last year:
Properties sold (price indicates net proceeds after sale-related expenses): - Coniston Communication Tower (off Aubrey Ave.), $9,664 - Vincent St., Sudbury (vacant), $1,265 - 191 Church St., Garson, $76,805 - 143 Lasalle Blvd., Sudbury, $110,996 - Edward Ave., Coniston (vacant), $1,363 - Part of 560 Falconbridge Rd. (water tank), $3,629 - Young St., Capreol (vacant), $4,868 - Oak St., Capreol (vacant), $16,772 - Oak St., Capreol (vacant), $16,772 - Oak St., Capreol (vacant), $16,741 - Oak St., Capreol (vacant), $33,544 - Oak St., Capreol (vacant), $17,747 - 191 Ray St., Wahnapitae (vacant), $11,112 - 201 Ray St., Wahnapitae (vacant), $8,612 - Woodbine Ave., Sudbury (vacant), $5,858 - Percy Ave., Val Caron (vacant), $15,727 - Part of closed lane west of Aubrey St., Coniston, $2,264 - 441 MacLennan Dr., Skead (vacant), $35,574 - Hillcrest Dr., Lively (vacant), $2,142 - Howey Dr., Sudbury (vacant), $1,586 - 40 Kiandra Ct., Sudbury (vacant), $84,272 - Fourth Ave., Sudbury (vacant), $7,428 - Cross St., Sudbury (vacant), $520 - Spruce St., Sudbury (vacant), $1,654 - Old Falconbridge Rd., Sudbury (vacant), $58,916 - Belisle Dr., Valley East Industrial Park, $19,885 - Belisle Dr., Valley East Industrial Park, $19,885 - Lamondin St., Valley East Industrial Park, $119,724 - Mumford Dr., Walden Industrial Park, $59,714 - Magill St., Walden Industrial Park, $118,350 - Regional Rd. 84, Capreol Industrial Park, $15,000 - 2007 net property sale revenue, $898,400 Properties acquired in 2007 - Part of 1870 Paris St., Sudbury (vacant), $5,130 - Part of 1178 Falconbridge Rd., Sudbury, $26,500 - Part of 1276 Lasalle Blvd., Sudbury (vacant), $100 - Part of 74 Indian Rd., Sudbury, $6,200 - Part of 2037 Long Lake Rd., Sudbury (vacant), $350 - Part of 71 Lasalle Blvd., Sudbury (vacant), $7,890 - Linden Rd. at Mun. Rd. 84, Val Caron (vacant), $1,000 - Part of 2231 Lasalle Blvd., S