Monday, April 8, 2019
Due to the complexity and work required to complete both the draft land-lease agreement for the ecovillage and a high level, phased financial analysis of the entire Homestead Project, Administration requested that Council extend the deadline to the end of May, 2019. This happened at the regular Council meeting on April 8, 2019.
Council approved Administration’s request and these deliverables will be presented at the regular Council meeting on May 27, 2019.
Tuesday, February 12, 2019
At the Regular Council Meeting on February 11, 2019, Council approved the conceptual design of the Homestead Project on the 10-acre Municipal Dedication site located within the D’Arcy neighbourhood, including the vision for the creation of the 2.8-acre ecovillage component. Additionally, Council approved that Administration be directed to act as the land developer for the Homestead Project and enter into land lease negotiations with Realize Communities as the builder and administrator of the ecovillage component of the Project, and present a final lease agreement for Council consideration by April 30, 2019.
The approval of the conceptual design is the first step in a long process. Before the project moves forward any further, Council must make a decision on a land-lease agreement and financial costs that will be brought forward by administration. As such, all details around the project wouldn’t begin to be developed until after the land-lease negotiations and financing are approved.
To further protect the Town’s interests, the following principal controls are required within the land lease:
- That the Town maintain ownership of land at the Homestead Project site in perpetuity;
- That Okotoks tax payers will not be responsible for any financial obligations not met by the ecovillage leasee (Realize Communities);
- That all profits made by the leasee be reinvested into the ecovillage and/or Okotoks community; and
- That the leasee continue to provide affordable housing options throughout the term of the land lease.
Monday, February 11, 2019
Administration presented a design concept and high-level cost analysis to Council for the proposed "Homestead Project" at the 10-acre Municipal Dedication site in the D’Arcy neighbourhood, including the 2.8-acre ecovillage sub-component of the project.