scheme that provides greater exposure and access to the wooded area north of the unopened road
allowance. The Township could consider the feasibility of not developing a certain number of lots
north of the unopened road allowance to provide greater exposure and accessibility to the woodlot.
It is important to recognize that the Township has been actively accumulating open space where
possible, and effectively using the development approval process to secure, conserve, and protect
open space and environmentally sensitive areas. Over the past 20 years, approximately 149.71
hectares (370 acres) has been accumulated and secured as open space for the Township through the
development approval process in Breslau, Elmira, and St. Jacobs.
the amount of approximately $1.93 million. Of this amount, $1.5 million was to be realized from the
development of the Victoria Glen lands. Although the Township may not require all of the funds
received from the development of the Victoria Glen lands for the Capital Facilities Program, the
additional revenue will be required to aid in funding the 5-year Capital Forecast. Also, any additional
revenue will be used to offset costly hard infrastructure projects that may be impacted by the outcome
of infrastructure review studies.
The detailed financial implications of proceeding with declaring the subject lands surplus and
developing them for residential uses could potentially net the Township approximately $1.93 million if
the Regional lands are acquired, and approximately $1.29 million without the Regional lands as part of
the development.
If Council chooses not to proceed with declaring the subject lands surplus and developing the Victoria
Glen lands, the monies anticipated will have to come from another source. Staff has identified a few
options for securing the necessary funding in substitute of the potential proceeds from the Victoria
Glen Lands, as follows:
Use of Long-term Borrowing / Debenture
Recently through report F22-2009, Council approved the long-term borrowing of $3.72 million as part
of the overall financing of the Capital Facilities Program. This amounts to approximately $181 per
capita for the Township of Woolwich. Through report F18-2009 (Capital Budget Forecast 2010-2013),
Council amended the debenture maximum per capita from $190 to $230. If Council were to replace
the funds anticipated from the development of the Victoria Glen Lands with a long-term borrowing
option, this would create an additional 1.7% burden in the 2010 levy requirement.
additional $9.73. It would also increase the existing debt per capita to $254, which would mean that
Council will need to further amend the maximum debt per capita. In addition, depending on Council’s
debt threshold, this may jeopardize the Township’s Five-year Capital Forecast as the plan is based on
modest debenture amounts. This could result in deferring or possibly cancelling planned capital
projects such as roads and bridges.
Use of Proceeds from the Sale of Other Surplus Lands / Properties
As Council is aware, through report E75-2009 a number of lands and properties were declared
surplus. Through the disposal of these properties the Township could realize up to approximately
$1.2 million in additional revenue. There are a number of inherent dangers with using this option in
replace of the proceeds from Victoria Glen. For example, the Township may not be able to sell these
properties for a number of years and when these properties are sold, the final number may fall