Wednesday, January 5, 2011

White Rock Buying 'church property' - Paying $1.6 million Using 'City Reserves': 'New Year's Present for Citizens'

The Community of White Rock and its residents now have a 'church of their own'. At least they own the land and the community is now leasing the land back now White Rock and the 'community of'...can proudly state:

1. They own the whole block an thus one gather the corner lot and the quaint yellowish, beige coloured building will be around for at least a year based on the terms of the land transaction.

The following from the Press Release issued and arriving to Editors desk today.
Happy New Year.
Any comments and corrections please email to:

January 5, 2011

"White Rock, B.C. – In late December 2010, the City of White Rock purchased a parcel of property next to City Hall, at 1174 Fir Street, from the First Church of Christ, Scientist.

The City was first approached in early 2010 to determine if there was an interest in acquiring the land. As the City already owns the rest of the land in the block area bounded by Fir Street, Buena Vista Avenue, Centre Street and Pacific Avenue, Council concluded that this purchase would provide an opportunity to re-develop the site in the future in a comprehensive manner.

After a thorough analysis, including a budget review and two appraisals, White Rock Council directed staff to negotiate purchase.
“This is a good investment for the residents of White Rock,” said Mayor Catherine Ferguson.
“With the addition of this property the City now owns the entire city block, which will provide more opportunities and options for the future of this site.”

The appraised value of the church land was approximately $1.5 - $2.1 million. The purchase price of $1.6 million was paid from City reserves.

At this point in time, the First Church of Christ, Scientist, is leasing back the space from the City for a period of one year.

For more information:
Peggy Clark
City Manager

Announcement sponsored by:

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