Loonie for a Lot Program Attracting Potential Homebuilders

Loonie for a Lot Program Attracting Potential Homebuilders

Michelle Pinon - News Advertiser

The County of Minburn recently launched its ‘Buy a Lot for a Loonie’ program and it’s already generating a lot of interest from potential homebuilders.

Davin Gegolick, Planning & Development Officer for the County of Minburn, stated, “We currently have over 30 County-owned properties listed for sale. However, since launching this program a couple of weeks ago, we’ve received a tremendous amount of interest and we’re currently in the process of preparing transfers for three lots.”

All of the lots are within the Hamlets of Lavoy, Minburn, and Ranfurly. Gegolick explained, “The ‘Buy a Lot for a Loonie’ program is only eligible for people who have a plan in place to construct a dwelling in the immediate future. If you’re interested in purchasing a lot but not yet ready to build, the lot would be sold at fair market value. The lots are sold on a first-come, first-served basis.

The purchaser has 90 days from the signing of an agreement to apply for a development permit. Construction of the dwelling must commence to a level acceptable to the County within 1 year of the development permit being issued and construction must be completed within a year.

There is a $1,000 per lot deposit which is returned to the purchaser after the dwelling is constructed in accordance with the timelines and requirements of the County’s Land Use Bylaw, Alberta Building Code, and applicable Safety Codes. The purchaser is responsible for servicing the lot (water, sewer, road, etc.) if no services exist.”

As far as feedback about the program? Gegolick said, “Most people I’ve spoken to agree that this is a great idea and a great opportunity to spur development in the region.”

He went on to say, “The County of Minburn has acquired several lots over the years, most of which are vacant land. We’ve kept these lots maintained throughout the years and never really listed them for sale to the public. Instead of wasting resources to keep the grass cut, etc. throughout the year, we had the idea to basically give these lots away to spur development and bring attention to the region.

I know of a municipality in Saskatchewan that offered a similar type of promotion and it resulted in an entire village being developed. The Town of Mundare offered a similar incentive which resulted in several downtown business lots being developed. I think it’s a great idea and a win-win situation.”