The Town of Prescott’s Committee of the Whole is suggesting further research before moving ahead with the next phase of the Woodland subdivision.
In 2010 the town entered an agreement with Mapleview Homes with the end goal being the construction of the Woodland subdivision. The agreement, in essence, saw the town service the vacant lands on a phase by phase basis before selling lots to Mapleview Homes. The intended goal was to sell the lots at a fixed price that was estimated to net the town a profit, after recovering the cost they had spent on infrastructure construction. Due to unforeseen circumstances the town finds itself in a deficit of over $300,000 after the sale of the first 46 lots. It is important to note that each of the new homes built, sold and assessed will generate approximately $125,000 per year.
Mapleview Homes has completed phases one and two of the Woodland subdivision but the town want more research done before they break ground on phase three. The Committee of the Whole forwarded a motion that recommended Council authorizes a preliminary engineering investigation consisting of topographic mapping and a geotechnical review of Woodland Drive. By having the engineering investigation done the Committee intend to find a new price for the lots that will not result in a deficit for phases three and four of the development.
The motion carried and while the specifics are yet to be determined it will be focused on the eventual construction of the road and related infrastructure services from Fischl to McAuley Road. The money for the investigation will come from the water and waste water reserves.
