Skaha Hills FAQ
PENTICTON INDIAN BAND DEVELOPMENT CORPORATION
AUGUST 2013
Skaha Hills
Residential
Resort
Development
Define the Purposes of the Skaha
Hills Project:
“Residential
development,
commercial developments, resort
dwelling development, hotel, golf
course, retail facilities, vineyard
and golf course”
Why a golf course?
Golf courses have a strong track
record of providing an increase to
the selling price and sales volume
of the residential development
and adjacent real estate, in which
this case will provide services and
an enhanced value to adjacent
properties. Golf can help drive
demand for on-site hospitality
functions
such
as;
retail
businesses, hotels and serviced
apartments. Golf is also a major
employer with 30-40 jobs as a
potential.
Will there be a clubhouse/
restaurant?
There will be a Clubhouse and a
restaurant facility that may be
built in the later phases of the
development.
Why the need for a Winery and
the Commercial Development?
Vineyards and Wineries are one of
the major reasons people choose
to live in the Okanagan. A winery
and Commercial Development will
increase the selling price and sales
volume of the residential and
adjacent real estate. They will
also create employment, lease and
taxation revenue to the band.
Will the MasterPlan change?
The masterplan will be tweaked
throughout the 20 years of
development. These changes are
not to the use of the lands but
PENTICTON INDIAN BAND DEVELOPMENT CORPORATION
more to be flexible to allow, for
example,
more
multi
family
dwellings rather than residential if
that is what the market dictates.
They are not major changes but
more adjustments to the market
place.
Why does there need to be a
longer designation term?
15 years has already passed from
the original designation passed in
1998. Changing the term of the
number of years for Skaha Hills is
to ensure that any development
now or in 10 years - is allotted a 99
year lease.
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What type of housing will go on
Skaha Hills?
Housing types will be defined as
addressing sustainability within
the Okanagan’s unique desert
environment. A connection to
the land is the guiding principle.
The inspiration for materials and
color use are to be drawn from
this natural setting. Providing a
visual integration with the land
to show its solidarity and
strength.
For Financing - Which bank will
PIB be working with?
A bank as not yet been
determined. However, we do
have 2 banks that are willing to
work with PIB to finance the
project. Currently the Bank of
Montreal and Royal Bank have
been approached for financing.
Will the band have to go into
debt for Skaha Hills?
Currently, PIBDC has raised over
$700,000 of government funding
and are intending to raise
another $1 million from the
government to support the Skaha
Hills project. The balance of the
funds(approx. $2.5 - $3 million)
will be borrowed under a long
term debt from the bank.
What certainty of
Government Funding?
there
is
PIB is in the final stages of
securing
the
AANDC
CEOP
funding for $1 - 2 million for
Skaha
Hills.
The
more
government funding we receive,
the less PIB will have to finance.
What if sales don’t materialize?
PIBDC will continue to market
Skaha Hills until we find a niche
market that will drive our sales.
training programs for the Skaha
Hills
Project
and
other
Development Projects.
Why is the Band involved in as a
partner in Skaha Hills?
921 – Direct Construction Jobs
over the duration of the project
(15-20 yrs)
PIB is involved in this project as
a 20% partner in partnership
with our developers, Greyback
Developments Ltd. This helps to
ensure that PIB has a say and
can provide input in anything
pertaining to Skaha Hills as well
as participate in the profit.
What is the
involvement?
cost
of
PIB’s
PIB provides 20% of the on site
costs to the Skaha Hills Project.
This would also include the costs
to build the homes. Therefore,
that is why it is imperative that
PIB debt finance to contribute to
the Project. PIB will be covering
the costs of the infrastructure.
This means, no matter what PIB
owns the infrastructure.
61 – Estimated Jobs a year
within Infrastructure, roads,
sewer, water and golf course
construction and maintenance
736 – indirect jobs from supplier
industries
and
industries
supplying goods and services
How to Mitigate RIsks:
Once risks have been identified
and assessed, all techniques to
manage the risk fall into one or
more of these four major
categories:
1.
Avoidance
(eliminate,
withdraw from or not become
involved)
2.Reduction
mitigate)
(optimize
–
3. Sharing (transfer – outsource
or insure)
Employment and Training:
The Skaha Hills project will
create numerous jobs, career,
business
and
training
opportunities for the members
of the Penticton Indian Band for
development, operations and
maintenance in the following
areas: vineyard; winery, golf
course; water and sewer; road
works; hotel; restaurant, on and
off-site construction
Penticton Indian Band members
will be given the opportunity to
prepare
for
employment
opportunities
job-related
4. Retention
budget)
(accept
and
Potential Arrowleaf Revenue
“Economic Development will increase our property taxation base, therefore
increasing our property taxation budget. An increase in property tax revenue can
be reinvested to improve community infrastructure and support economic
growth.”
~ Carlene George, PIB Taxation Officer
For more information,
questions or concerns,
please contact Lesley
Gabriel at the PIBDC
Office (250) 492-3154 or
by email [email protected]
PIBDC’S GOALS
Our approach is to act with integrity and fairness to
maximize financial benefits for our business partners and
the Penticton Indian Band community. We will create a
winning network of customers and suppliers so that together
we create mutual enduring value and celebrate our success!