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Financing:

Servicing financing for off-site works could be arranged in a number of
ways. Prior to approval of any rezoning of the area Council should
decide on the method to be used, which may be any of the following:

- Review of City wide Development Cost Charge a ;

- Creation of a special Development Cost Charge for the Riverwood
Aree.

~  Gevelopers in the area are requested to provide all necessary
services. (The City may assist with refund of Development Cost
Charges where appropriate and assist in negotiations fer cost
sharing agreements with the Province where and if applicable).

Required Areas: hy

The areas and locations for schools ang parks, as agreed in principle
by the Parks and Recreation Director and the School Board, are noted on
the attached Drawing No. 2 and in Section III (a) above.

Purchasing Strategy:

Council should decide on a purchasing strategy for the properties .
required for parks and should consider, if the means of the :
Municipality so permit and in consultation with the School Board, the oo
purchasing of the School sites. These properties could be held by the _
City until the School Board is in a position to acquire them from the

City.

Purchaging of the lands at the earliest possible date is recommended

because it will reduce uncertainty among current owners and will allow
the City to buy the land at current prices rather than at "serviced
lands" prices.

Alternative Purchasing Strategy:

Council could opt for requesting the developer to provide the necessary
parkland, as it amounts to just about 54 of the total developable land
within the Area Control Plan. The difficulty with this is that it will
require that all property owners in the area deveionp in partnership,
and proceed to dedicate their legal 5% in the appropriate location.

As this 100% coordinated approach to development is not likely, this
option is not recommended.

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