How does the purchase price compare to past transactions?
The $8.5M purchse price considers the 2024 appraised value of $3.41M, financial value associated with rezoning potential, and other potential community benefits such as parkland. Past purchase values are not directly comparable, as they included different lands, zoning and operations. After much discussion and negotiation, this final price is lower than what the seller first asked for, but higher than the Town’s starting offer.
What is the purchase price of the Golf Course lands?
The $8.5M purchase price covers acquisition. Additional costs include consultants, legal, and realtor fees. Land sales are expected to offset costs, with a potential surplus being reinvested into other community amenities and infrastructure, based on future Council decision-making.
Could the Town fund the purchase without selling any land?
Possibly. If the community supports the purchase but prefers less development, the Town could explore other funding models such as taxation or a Local Area Service. This is not the current proposed approach, but could be explored if there is community interest.
Which Town projects will be deferred until land sales occur?
Some 2026 Financial Plan projects will be delayed until land sale revenues are received and staff capacity becomes available.
Deferred capital projects:
- Bus Garage Site Works ($800k)
- Saahtlam Park Amenity Improvements ($350k)
- Pickleball Courts ($85k)
- Operations Modernization (excluding initial phase of Needs Assessment)
Deferred Strategic Initiatives:
- Airport Master Business Plan
- Community Park Needs Assessment
- Food Action Plan
- Performing Arts Cinema land search
- Climate Change Adaptation Plan update
- Community Park Site Review
- Accessibility Dwelling Unit Design Template
- Parking Management Strategy
Once the revenue from land sales is received and staff capacity becomes available, these projects will be reinstated with revised timelines based on future Council decision-making.
What if the land identified for development does not sell, or sells slowly?
The Town has received professional financial advice and will phase land sales and budget contingencies to mitigate risk, based on future Council decision-making.
Could these land sales generate a surplus?
Preliminary financial modelling indicates that land sales have the potential to fully recover acquisition costs (estimated at ~$8.5M) while generating additional revenue to provide funds for priority capital projects, including but not limited to:
- open space and recreation (i.e., golf course, trails and parkland);
- transportation and traffic calming (i.e., roundabout);
- environmental management (i.e., reforestation and drainage); and
- drainage and Asbestos Cement (AC) Pipe replacements.
Will my taxes go up if the land does not sell?
In determining the feasibility of the project, Council was careful to consider the market and to ensure it was financially viable for the project costs to be covered through land sales. Unlike borrowing, funding the acquisition through land sales is intended to avoid any tax impact. Future Council decisions will determine which amenities and infrastructure are funded, as well as the timing and extent of land sales.
Who is the private donor, and are there conditions to their donation?
The Town of Qualicum Beach has signed a conditional donation agreement with a private donor that could contribute 25% of the purchase price for the Eaglecrest Golf Course lands, up to $2.125 million.
The donor has chosen to remain anonymous until after the acquisition is complete. Their only condition is that the contribution be used to ensure the permanent protection of the areas identified as “Reforested Parkland” on the Potential Land Use Map previously published by the Town (approximately 40 acres). The map is available on this page.
The donation is conditional on the Town acquiring the property.
