Posted in Kensington Island Properties aka KIP Costanza, 34083 Yukon Inc.

Kensington Island Properties – How About This One?

Kensington countering rumour mill.  By Brian McMahon, VP, Kensington Island Properties

1242749315_bullshit_amplifier-detectorPublished: September 27, 2011 12:00 PM

Updated: September 27, 2011 12:56 PM

Dear editor,
It is another great day in Union Bay but not without a few rumours and a little controversy.
Historically, we have stayed out of the fray but with so many ill-founded rumours out there, it was time for some facts.
First, Kensington Island Properties (KIP) has not sold to a Korean offshore group. Kensington still owns 100 per cent of the land covered under the Comox Valley Regional District (CVRD) Bylaws 56 and 57 and the Master Development Agreement (MDA).
True, we are talking to other developers and builders who will help us develop the communities within Union Bay. We are al| anxious to get going.
Secondly, we have not abandoned the development nor have we run out of money or just gone away.
The MDA states that before we can apply for any building permits we must first consolidate all 12 parcels of our land into the five Comprehensive Development Zones. To meet this obligation, we have had to survey the parcels and register them with the Land Title office in Victoria.
his meant completing more than 23,000 metres of land survey including the perimeter of all of our land, Highway 19A, the E&N Railroad tracks, Washer Creek and the foreshore of Baynes Sound as they relate to our land.
This has meant more than a year of survey and consultant time. The first of these CD Zones has now been registered with the balance to follow shortly.
Third, we have not forgotten our obligation to the people of Union Bay.
Before we develop any land, we will first upgrade the Union Bay Improvement District (UBID) water system. We signed an agreement with UBID in April of this year. These upgrades will meet and exceed the requirements as set out by the Province of B.C. and the Vancouver Island Health Authority.
The equipment and components required to complete this upgrade have been sourced and are sitting in Langley. Work will commence once a permit is issued by the CVRD.  



King of Bullshit.

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