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This is unacceptable to the half of council that doesn’t want a large increase in the levy after homeowners absorbed an 8.4 per cent hike in 2020. These council members would rather take a loan from Norfolk’s $70-million Legacy Fund. The other half of council is opposed to the loan, thus the need for a Day 7.
As it happened, Norfolk council recognized last year that the county’s extensive real-estate portfolio should be reviewed and rationalized.
During last year’s deliberation, council approved the formation of an in-house committee to examine the county’s holdings and come up with some “quick wins.” The proceeds would be applied against the county’s operating costs, reserve-fund deficits and other budget areas showing a shortfall.
Members of the “Land Monetization Project” have met 11 times. They have identified parcels that could be turned around for quick cash.
“The committee has identified two possible housing sites in Simcoe and one in Delhi,” Norfolk’s realty services co-ordinator Lydia Harrison and corporate services generalist Katelyn Bowen-Schweyer said in an update Friday.
“Staff are targeting to present the identified quick-win properties proposed for surplus and disposition to council in a subsequent report (this spring) and will continue to review additional potential properties.”
The goal of the initiative is to short-list real estate worth about $7.2 million and sell it over three years.
