City Council will once again look at whether or not to sell the city-owned parkades.

The motion from At Large Councillor Aldo Ruberto, which was first presented in late September, is looking for administration to proceed with divesting the city of both the Victoriaville and Waterfront structures in separate transactions.

Monday’s motion further adds that any costs associated with disposition including appraisal fees, advertising and Land Registry Fees would need to be covered by the Land Development Fund.

Originally, Ruberto wanted to make this an issue for the 2021 Budget but chose the report route instead.

Should the motion pass, city staff to need to report back to council on or before June 20, 2022.

In 2020, a memo from the city’s then-General Manager of Development Mark Smith said the parkades have a combined average deficit of $380,000 each year.

Timeline

February 8th – Council passed resolution directing Administration to report back by June 14th on the feasibility of divesting ownership and proceeding with sale of both the Waterfront and Victoriaville Parkades.

June 14th – Joel DePeuter (Manager – Realty Services) indicated that the report relative to the above would be postponed until the July 26th Committee of the Whole meeting

July 26th – Report was presented to council

September 20th – At Large Councillor Aldo Ruberto puts forward a motion to sell the parkades that was post-poned until the October 18th Committee of the Whole meeting so that financial implications relative to the parkades could be presented for information in conjunction with the decision.