West Quesnel land question: A story of civic deception and expropriation by stealth
West Quesnel land question: A story of civic deception and expropriation by stealth.
Re: West Quesnel's Uplands stability issue.
The uplands catchment area includes 940 properties of which 750 are residential. 25% of Quesnel’s population lives in this area.
The city bulletin  states clearly the city's intent to impede all development in uplands.
The result of this action is a serious decrease in residential property value and marketability.
In 2010, there were 12 sales in this now plighted area however, bank mortgages were available.
Now a restrictive covenant will be placed on all properties that received 25% or more damage [the 25% rule] before a building permit is issued to effect repairs.
If a property receives 25% or more damage [what value of the improvement used is a mystery] a Geotechnical survey must be completed. My information has it this is a $50- $60 THOUSAND touch.
The covenant reads, in part of the title;
“If mortgage is on title, having mortgagee sign off giving city charge priority over its financial charge”
A bank will never relinquish the first place on a mortgage. Mortgage money is now hard to come by.
Insurance companies once informed of the covenant are declining to write new insurance.
No insurance, no mortgage.
I believe I can state without fear of contradiction the City's policy has now destroyed property value in the uplands area.
The city does not have authority to expropriate without compensation.
West Quesnel, B.C.