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The financial impact of Glen Abbey continued from p.4 The report noted, with a golf course and 150- room hotel, the Glen Abbey property is estimated to support annual GDP impacts of $26 million, 350-person years of employment and annual property tax income around $300,000, as well as one-time impacts associated with the construc- tion of the hotel. Construction of a hotel on the property could generate one-time GDP impacts of $18.6 million and support 265-person years of employment. A hotel may draw 85,000 guests annually and provide $4.2 million in spending, too. On Nov. 10, 2016, the Town received an application from ClubLink, property owners, to redevelop the golf course property into 3,222 residential units, 121,000 sq. ft. of new commercial space and about 124 acres of permanent, publicly-accessible green space. Regarding the operation of the new commercial development proposed, there are one-time economic impacts that would result from the proposed redevelopment of the golf course, inch related spending. If developed, the report states — at full build- out, a redeveloped Glen Abbey is projected to generate property tax revenue to the Town between $5.9 million and $9.4 million annually and support 275-person years of employment. In addition to the one-time impacts arising from the physical redevelopment of Glen Abbey, the Town is expected to benefit from the contribution of the Sixteen Mile Creek valley lands to the Town by ClubLink. However, a redeveloped Glen Abbey property will require increased operational and life cycle expenditures by the Town. Depending on the assessed value of properties ultimately developed, the fiscal impact to the ‘Town could range from a net annual shortfall of $2.5 million toa net annual surplus of $1 million. Dependent on the case, council was advised municipal property tax rates may need to be adjusted, according to the report. Chris Stoate, local businessman and former Ward 3 Town councillor, was at council to say a redevelopment of the golf course property would fil bea “loss to the community, a loss of an amenity, a blow to its prestige and a loss of one of the elements that makes Oakville, Oakville.” Because of Glen Abbey golf course’ popularity, a year’ notice is required to book tournaments, Stoate claimed. “Its obvious to everyone that Glen Abbey has become an integral part of Oakvilles identity,” said Stoate. As part of the Town’ interim control bylaw placed on the lands until Jan. 31 2018, and before forward that it deemed needed completed _— Urban d Impact Analysis study and ihe Cultural Heritage Landscape assessment. To view the Pwe Watson reports, visit arent 5OosGadoos re AGENDA AyA KITCHENS OF OAKVILLE 1195 NORTH SERVICE ROAD WEST 905.847.1522 KITCHENS OF OAKVILLE NZNO AVE R= @0)\Y/) cant WINDOWS & DOORS SHUTTERS & BLINDS Since 1 “mg YOULL BHAA BRHARY. YOU CAL Bronte & Dundas, Oakville EC LIPSE an fasada.ca 905.827.3331 HunterDouglas @ Gallery" Woo'uoyeyepisulMm | YIAVEE STHAMWO | ZTOZ ‘OT ounr Aepud | ET