The original swap proposed by Marianne Wilkinson was workable only because it traded land that was in immediate threat of development for land that was not and did so on an equal basis. More importantly, it was part and parcel of a larger deal which protected an environmentally significant forest.
However the Peter Hume deal that Councillor Wilkinson settled for on Dec 15, is worse than completely meaningless – it results in a net loss of greenspace at an opportunity cost of $1.46 M!
According to city staff’s ever moving estimate, the 74 acres of Beaver Pond Forest has a fair market value of $18 M or $243 K / acre.
The Hume-Wilkinson deal approved by council surrenders 12 acres elsewhere in the South March Highlands to obtain a 6 acre corridor that has no possible ecological function. The net loss of trading 12 acres to get 6 at a rate of $243 K / acre means that the city just paid Urbandale the equivalent of $1.46 M for Marianne’s precious corridor.
This corridor is to be an 80m wide pathway through the middle of a subdivision that is supposed to start at Beaver Pond, cross a road, and terminate at Shirley’s Brook. There is no ecological value to it, while the land that was surrendered is adjacent to a larger protected area.
What was she thinking?