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THUNDER BAY — A controversial proposal to sell a city-owned mobile home park remains on the table after city council voted to receive more information on the issue.
Residents at Hillcourt Estates will now wait until March of next year to learn whether the city will move forward with a sale.
Council made the decision on a narrow 7-5 vote after a debate charged with concerns over the availability of affordable housing in the city.
Hillcourt residents have vocally opposed a sale, submitting a petition bearing over 400 signatures.
Presenting to council on Monday alongside other residents, Mandy Bruyere called municipal ownership a win-win,...
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Here’s one of the classic quotes of all time regarding this city-owned park:
“We’re making over $170,000 a year, so if any private developer would come in, I imagine they would maintain their asset the same way we would,” he said.
For those who have little math skills – which this bureaucrat hopes applies to residents of the park -- $170,000 per year in net income at a 6% cap rate works out to only $2,800,000. Do you think that a big piece of land near the waterfront in Ontario, Canada might be worth a little more than $2,800,000?
Here’s how this is really going to work out. The city is going to sell the property to a developer and they will swiftly tear it down to build apartments. The city removes all of the cost the park inflicts on the city (school tuition, uninsured hospital visits, etc.), improves the drive-up appeal of the neighborhood, and gets out from under the tough job of managing a mobile home park. And everyone knows it, regardless of what they may say at city council meetings.