Kimberley City Council has decided to sell some of the city’s non-core assets.
The City of Kimberley announced in a press release Thursday that Kimberley Riverside Campground and Bootleg Gap Golf Course will be sold.
“Improving core infrastructure without placing additional burden on our taxpayers is a focus for Council,” said Mayor Don McCormick. “The proceeds from the sale of these non-core assets will replenish reserves needed to address infrastructure renewal and support the continued growth of our community.”
McCormick continued, “In the past few years, the sale of non-core assets – primarily residential and commercial raw land – has added close to $1M to the Kimberley Reserve Fund. This represents more than 10 per cent of the variable tax rate and is a major factor in keeping tax increases within our municipal rate of inflation.”
“Bootleg Gap Golf is managed by the Bootleg Gap Golf Society. The Riverside Campground is managed by the Kimberley Community Development Society. Both assets are well managed and profitable as evidenced by their recent market assessment.”
The City says that current market appraisals have the campground valued at $2 million and Bootleg Gap at $3.55 million.
Whether or not there are buyer out there will be known in December, when Council will consider any offers received. The City will put out a request for proposals in November, and ask anyone interested in purchasing either asset to demonstrate appropriate experience and vision in their proposal.
Bootleg Gap is a 27 hole course, which was built in 2003. The City had previously owned Trickle Creek Golf Course and sold it to Resorts of the Canadian Rockies.
The Campground features 130 trailer/tent sites and is situated along the St. Mary River. It was also built replacing another city campground, which had been located near the current base of the Kimberley Alpine Resort. That campground was closed due to resort development.