Letter: What monetary benefits will the church receive?

Send your letters to editor@oakbaynews.com

The Oak Bay United Church is proposing to provide approximately 50,000 square feet of their Granite Street property to build affordable housing for the community. In return, the church wants an income to cover their cost for the next 100 years. It is unclear whether the church will receive other compensation.

What is the OBUC’s land contribution worth? One way is to ask how much the church would get if it sold the land as housing lots. Assuming they could sell eight lots for $1 million, the value of the land would be $8 million.

If the present value of the payout to the church (including yearly income) is more than the value of the land, I suggest the church is acting contrary to the principals of a not-for-profit organization.

To address the issue of public confidence, and be fully transparent, the church and its partner BC Housing should tell the community what monetary benefits the church will receive.

Mike Wilmut

Oak Bay

Just Posted

Man flees Bay Centre after daytime sexual assault in downtown Victoria

The suspect physically and sexually assaulted a 12-year-old girl shopping with a friend

Chinese New Year takes to the streets of Victoria

Hundreds brave chilly temperatures to usher in the Year of the Dog

Storm snuffs out lights on Saanich’s Ten Mile Point

Environment Canada wind warning calls for a brief “respite” before winds of up 90 kilometres resume

Sidney fire fighters get their first truck back

After years of neglect, the truck is running just fine

Sidney’s taxes going up this year

Town calls increase “modest,” represent a $34/year jump for the average household

WATCH: Oak Bay hosts inaugural Vancouver Island Polar Plunge for Special Olympics BC

Local cops drag multi-media journalists out for a swim ahead of March 11 event

How to keep local news visible in your Facebook feed

Facebook has changed the news feed to emphasize personal connections. You might see less news.

VIDEO: Protesters rally for affordable housing ahead of B.C. budget

Residents call on province to keep locals housed

School shooting unfathomable to Saanich student

Claremont Grade 10 student reflects on the carnage inflicted on U.S. schools

#Metoo movement causing confusion in many men, fear of missteps with women: experts

Being painted by the same sweeping brush as those alleged to have mistreated women has angered men

Liberals to dig deeper, aim higher on gender equality in 2018 federal budget

Finance Minister Bill Morneau said the budget would include measures to boost women in the workforce

Vancouver Island’s Teal Harle finishes fifth in Olympic Men’s Slopestyle skiing

‘I’ve definitely surpassed every expectation I had for the Games’ – Harle

Body of missing skier found

Man’s truck found in Revelstoke Mountain Resort’s parking lot covered in ‘several days’ snow’

Most Read