ABERFOYLE – It appears Puslinch Township is planning to purchase property to be used for recreational purposes.
While there was lots of information on how the township plans to fund the purchase in the agenda for the Dec. 17 meeting, council was mum on any other details, such as the location of the property, the possible use or how the acquisition came about.
Indeed, no announcement was made about purchasing land.
But in her draft 2026 operating budget report, treasurer Mary Hasan writes about a “potential land acquisition” and proposes to pay for it using reserves.
During discussion of the operating budget, Hasan said the proposed purchase price of the land is $1.6 million.
And CAO Courtenay Hoytfox said “there’s potential revenue stream associated with the land acquisition.”
While shrouded in mystery, Hasan’s report states, “The township can fund the proposed land acquisition through a blended reserve approach that minimizes long-term debt exposure, avoids unnecessary interest costs, and preserves future tax levy flexibility.”
While not disclosing any details, the report states the township will use reserve funds to make the purchase – $400,000 from each of the asset management and gravel roads improvement discretionary reserves, and $800,000 from the cash in lieu reserve.
This will essentially wipe out the cash in lieu reserve, “temporarily creating a deficit of $800,000,” the report reads.
But borrowing from the reserve will save $224,000 in interest payments, which would have to be paid if the township was to take a 10-year debenture through Wellington County, it said.
“This strategy is only advisable if sufficient future development is anticipated to recover the temporary deficit,” states the report, which then notes non-residential development nets higher cash in lieu contributions than residential development, and Puslinch is poised for industrial development.
The report says there will be some operational costs in 2026 for maintaining the vacant property: about $12,000 for garbage collection and routine maintenance.
It adds, “operating costs will increase once the land is developed.”
The township is embarking on a parks and recreation master plan in 2026 and its findings will guide the future use of this land, the report states, “including park amenities, community-oriented functions and potential revenue-generating opportunities.”
Asked in a follow-up email if he can say where the property is located, Mayor James Seeley replied, “At this point I’m not permitted to disclose the location.”
