UNBC gets Council support to make business case for development
PRINCE GEORGE – A delegation from the University of Northern BC went before Council looking for support for a future development endeavour and they got it wholeheartedly.
As part of the university’s original Land Trust, 47 acres of land was set aside across from the main campus for future use. The university has its sights set on 35 acres of that land for long-term, mixed-use development.
The property it was noted, has an assessed value of $1.05 billion at the low end and $1.72 billion at the high end. That could translate into $6.6 million to over $10 million in tax revenues to the City.
However a portion of the land in question is subject to what’s called a “reverter clause,” meaning the Province has sway over how that land will be used.
