| Page 8 It is City Policy, specifically the Council approved Seine River Greenway Study, that land within the flood basin of the Seine River be acquired for the purpose of flood protection and recreation. Thirty-three acres of �Bois des Esprits� can be acquired in this manner for an approximate cost of $495,000. Although funding for this specific acquisition has not been identified, the Five- Year Capital Forecast does include general funding of $150,000 per year for any Seine River waterway land acquisitions. The waterway lands were originally delineated in 1980 and are required to accommodate flow along the Seine River from a 100-year summer storm. The waterway lands are typically purchased at the time of subdivision under the terms and conditions of the Development Agreement as approved by Council. Tree Stand Above Waterway Requirement Line: The City of Winnipeg�s Naturalist, Forester, and Environmental Coordinator were consulted in defining the quality of the tree stand. Their feedback is the basis for the following discussion. This portion of the tree stand, together with the portion lying below the waterway requirement, represents the largest and highest quality unmanaged river bottom forest left in Winnipeg. There are three categories in terms of quality of habitat: Category One (1) comprises approximately 32 acres of relatively healthy trees and understory woody shrubs. Mature bur oak dominates the upland. Construction would destroy virtually all the oaks even if some were left for landscaping purposes. These 32 acres (subject to final calculation based on a survey) are recommended for acquisition by the City. Because the developer under the terms to be established for DASZ 19/00 would dedicate 7.5 of these acres, 24.5 acres would need to be purchased at a price of $1.6M (rounded). Category Two (2) comprises 2.7 acres in the vicinity of the proposed bridge crossing opposite Southglen Boulevard. The bur oaks are not as old (large) as in Category One. Also, the soils are moister and so the trees show growing stress and many are in a state of decline (are dying back). This land calculated at a consistent rate would be priced at $175,500.00. Category Three (3) comprises 13.7 acres of primarily young to middle-aged aspens that are colonizing abandoned farmland. Within this category is a grouping of a unique clone of aspen unlike any other observed in Winnipeg. These should be preserved through vegetative propagation in a tree nursery, if they are not preserved as a small park. This land calculated at a consistent rate would be priced at $890,500.00. Basis of Price: Initially, the Department considered the price of any land to be purchased by the City should be strictly market value based, i.e. at a rate equal to the average market value of an acre within the 305-acre parent parcel. The developer, meanwhile, indicated that the joint venture was of the position that it required compensation for the cash flow it would forego as a result of a decision to sell the tree stand rather than developing the area in the ordinary course. The developer�s |