- A8 - The Terrace Standard, Wednesday, March 4, 1998

Out & About

Make that three smelters

PREMIER GLEN CLARK now has three different
aluminum companies scouting the possibility of build-
ing aluminum smelters in B.C.

The world’s biggest aluminum firm — Alcoa —

joined competitors AJumax and
Alcan Jast week in saying it
will also cazry out an extensive
study this year into the pos-
ibility of building a smelter
omewhere in the province.
Alcoa officials said their in-
a vestigation should be complete
4 by the end of December.
Clark said a review of B.C's
7 power inventory shows there's
ae fee pleity of ample energy.
: - ‘We could build — three
. Glen Clark smelters and frankly we could
‘| build more if there was the market,’ Clark said,

| Subdivision approved

A NEW rural subdivision near Kitselas has been ap-
‘| proved by the Kitimat-Stikine Regional District,

At a regional district meeting Feb. 21, the board
‘] voted to approve a frontage relaxation request by prop-
| erty owners William and Randy Penner.

The Penners own a 26 hectare parcel of land just
north of the Kitselas Reserve an Kitselas Rd. They plan
to subdivide the property into three 5.5 hectare
properties and one 9,5 ha. property.

Road access will be by a new cul-de-sac, but the
properties lack the road frontage required by regional
district bylaws, ao the owners needed to get special
permission from the board.

Although the board approved the request, members
{| of the planning committee were concemed about the
‘| poor state of Kitselas Rd.. They decided to send a leiter
to the highways ministry, pointing out that further de-
velopment in the area could create traffic hazards un-
less the road is better maintained,

Travel agency expands

TERRACE BUSINESSMAN George Clark is ex-
panding his travel agency business into Kitimat.

Clark this week completes his purchase of Kitimat’s
Farwest Travel Ine. The agency will operate under the
name Elan Travel — the same as Clark’s Terrace
agency on Lakelse Ave.

For Clark, who owned the Kitimat agency two

‘| roots,“ .
“'T sold it to Farwest 20 years ago,”’ Clark says. ‘So
i?'s gone full circle and come back now,"
Clark also spends part of his time in Prince Rupert,
where he’s half owner of Express Travel. The Rupert
agency will also soon operate under the Elan banner.

Sympatico takes a miss

B.C, TEL-operated Internet provider Sympatice has
passed over Terrace in ils latest round of expansions.
| The large service provider, which bad so far set up

only in B.C.’s major centres, has just announced exten-
| sion of service to several smaller B.C. centres includ-
ing Nelson, Trail, Chilliwack, Williams Lake,
‘| Courtenay, Duncan, and Port Alberni.

B.C. Tel officials say Terrace may be considered
again in future rounds of expansion.

decades aga, the move is something of a retum to his |

Baad, SAN een Hy
er. ~

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JAKE DE JONG, of Terrace Totem Ford, is not happy with a property assess-

ment that has almost tripled in two years. He and other businesses believe asses-
sars have put too much weight on prices paid for commercial land by the city’s
two new big box retailers — Canadian Tire and Real Canadian Wholesale Club,

Businesses object to
soaring assessments

Arrival of big retailers blamed for increases

By JEFF NAGEL
BUSINESSES here are protesting huge in-
creases in their property tax assessments
thal they say are the result of the arrival of
Canadian Tire and the Real Canadian
Wholesale Club,

The two large retailers paid big bucks to
get the Jand they built on last year and the
result has been a big increase in what B.C,
Assessment Authority views as the market
values of many similar properties around
town,

Oue of the hardest bit is McEwan GM,
which saw the assessed value of its land
alone rise from $223,000 in 1997 to
$1,114,000 in 1998. The car dealer’s over-
ali assessment, including buildings, more
than doubles from $957,000 to $1,934 mil-
lion. At present rates, that would translate
into a tax bill that’s toughly $50,000 high-

’Rudon Enterprises, another nearby busi-

hess, saw its land assessment rise from
$72,800 to $330,000,

‘We don’t make the market — we follow
the market,’’ explains area assessor Tom
Protheroe,

But the change has some of those affected
screaming — and promises some heated
sessions When a courl of revision convenes
here next week to hear objections to assess-
ments,

Terrace Totem Ford’s Jake De Jong is
one of those appealing his company’s as-
sessment, which rose from $951,000 in
1996 to nearly $2.8 million in 1998. Part of
that is the result of a large renovation and
expansion of the dealership. But De Jong
also believes the purchases of the big box
retailers have also played a big role,

“in the end Will apply to"all, ©

“Everybody else has to pay the piper be-
cause of that and I don’t think it’s fair,’’ De
Jong said, ‘“It’s not just McEwan and us —
it’s everybody that’s got commercial prop-
erty in Terrace.’’

Terrace and District Chamber of Com-
merce president Sharalyn Palagian says the
issue is the chamber’s number one topic for
discussion when it has its annual meeting
with city council in the weeks ahead.

“If a big box retailer can afford to pay
more, that shouldn’t affect the people thal
are right beside them,” she says, arguing
the prices paid by the two stores don’t
reflect the reality of the Terrace market.

She’s hoping council will take into ac-
count the effect of the assessment increases
by easing off on the business tax rate.

City council can’t differentiate between
different businesses, however, sa one rate

Councillor Linda Hawes says city council
is so far planning a small decrease below
the present city rate for businesses of
$22.50 per thousand of assessed value. And
the city’s portion accounts for only about
half of the overall tax bill, which also in-
cludes levies for the school district,
regional district and others.

City treasurer Keith Norman is
sympathetic to the affected businesses, ad-
ding owners in question could only sell
their land for the values assessed if another
big developer was hunting for property,

‘Its ridiculous,’’ he said. “There’s not
another Canadian Tire here looking for an-
other piece of land.

“‘There’s no way the market value has
gone up by ‘that much overnight, [ think
B.C. Assessment is out to lunch.'’

steak night

in town!

Royal Canadian Legion
Branch 13 - Terrace

First Friday of Every Month
Juicy Steak - Baked Potato - Salad

5:00 p.m. servings
ROS SEER RRR

Member & Bonafide Guests Welcome,
19 years and over only please.
Check with Branch for Entertainment.

ode

Another RRSP season
comes to an end this week
which means an end to the
deluge of investment
advertising by financial
institutions of fering
investments. In previous
articles I have given some
tips on finding = an
investment advisor, the
importance of having a
written financial plan, the
set up and maintenance of
an investment portfolio as
well as some ideas on how
to deal with market
volatility and its impact on
your portfolio.
While the RRSP season
will soon be over, don’t
make the mistake of putting
your personal finances and
your investment portfolio
on the back burner until
next RRSP season. [f you
have started to formulate a
Financial plan, follow it
through and remember to
review it at least once a year
with your advisor and more
often if there is a significant
change in your financial
situation. Review your
investments with your
_ advisor a, minimum of every.
six months. A good rule of
thumb is to review your
investments when you
receive your quarterly
statement and if you have
questions or concerns,
consult your advisor.
With the RRSP season

coming to an end, many
financial advisors will also
have extra time to devote to
educating their clients, My
recommendation is take
advantage of this
opportunity. As well,
educate yourself. Pick up a
business news paper, check
out the internet, read books
and ask your advisor about
anything you don’t
understand. You may be
thinking to yourself that the
reason you have an advisor
is so that you don’t have to
understand personal finance
and the basics of investing.
This couldn’t be further
from the tmth. It is not
required that you know
everything that there is to
know about investing but
the more you know, the
more comfortable you will
be with your investments
and your financial plan.
Keep in mind that if you
feel pressured that you have
to buy something every time
that you meet with your
advisor, then its time to
make a change to someone
who has your best interests
at heart.

You may find that it takes a
bit of work to sct your
financial course, but once
set, it becomes quite easy to ’
maintain it!

David Madsen CIM, CFP,
FCSI

“Professional
Investment

Advice”

To arrange an appointment
please call

in Terrace 635-2261 /In KitImat 632-6194

Scotiabank &

David B. Madsen,
CIM, CFP, FCSI

N

CORRECTION NOTICE
WE WISH TO DRAW YOUR
ATTENTION TO THE FOLLOWING IN
OUR CURRENT
"1998 CATALOGUE"
Page 239 - CHAINSAW DISCLAIMER
BONUS Copy states: 16° Chainsaw
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Page 262 - TOOL CHESTS
DISCLAIMER, Copy states : “Keyed
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Page 292 - (TEM 7,K-TEL HEATED
CAR SEAT CUSHION, 32-1464-4,, K-
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WE SINCERELY REGRET ANY
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