O'Keefe Range Lands Purchase

Welcome to the O'Keefe Range Lands Information webpage. This page was created to provide members with the resources and information to help inform you about the proposed purchase of 2,310 acres of prime land located within the city limits of Vernon and only 10 minutes from the City's downtown core. The northerly and majority of the westerly boundaries adjoin the boundaries of the Okanagan Indian Reserve No. 1 while the bulk of the easterly and southerly boundaries are adjacent to the City of Vernon’s recreational corridor the Grey Canal.


Watch the O'Keefe Range Land video for a bird's eye view

Zoom Information Session December 7 at 6 PM

Join us as we make a brief presentation then open the Zoom meeting to members for questions and comments.

On December 7, click here to join the meeting. Meeting ID: 869 1460 8806 Passcode: 581724

Information Package

You can download and print the O'Keefe Range Lands Purchase Information here.

The yellow area is IR#1. The red area is the 2,310 acres of land that is for sale.

Frequently asked questions

Recently, OKIB Chief and Council have settled on a purchase agreement to acquire 2,310 acres of land between OKIB IR#1 and the City of Vernon for a price of $26.8 million. Over the next 3 months the community will have the opportunity to learn about the land, the purchase agreement and ultimately vote on whether the community should proceed with the purchase. If the community votes against purchasing the land, OKIB will be refunded all deposits.

What has been the process of the purchase agreement?

When OKIB learned about the O’Keefe range land being put up for sale in the fall of 2020, Council had a discussion about the possibility of securing the land and instructed OKIB administration to begin discussion with the O’Keefe’s representative. Once discussions began, OKIB hired an independent appraiser to value the land. After going back and forth, a purchase agreement was agreed upon which gives OKIB 90 days to get community consent and then another 6 months to obtain financing to close the deal.

What did the appraisal report find?

The appraisal report confirmed the asking price that the O’Keefe’s had established based on recent market comparables. The asking price was $28.8 million and the appraisal report came back in February of 2021 with a valuation of $25.4 million. With the sudden increase of real estate prices in the North Okanagan this spring the appraiser supported a higher valuation.

What are the details of the land?

The land is made of 20 separate parcels and covers 2,310 acres of land between IR#1 and the City of Vernon. All of the land is in the City of Vernon boundaries and some of it has be approved for development in Vernon’s Official Community Plan. Only 19 acres of the property is in the ALR. There is the potential to add this land to the reserve quite easily as there are few encumbrances on the land (much different than Beau Park).

Are there unexploded ordnance (UXO) on this land?

Likely yes. Although no wide area assessments have been undertaken on the property, we assume that there are UXO’s found near the top of the property and would require clearance in the future. The appraisal and price reflects the potential of UXO’s. Work will be done to get Canada to help provide funding to clear the land in the future.

What are the steps in the purchase agreement (what happens next)?

OKIB has 90 days to do due diligence on the property and obtain community consent. Council has decided to hold a community-wide vote in mid-January to get a better sense of how the community would like to proceed.

What if the community votes in favour of the purchase agreement?

If a positive vote is obtained, OKIB will then have 6 months to determine how it is going to pay for the property.

What if the community votes against the purchase agreement?

The current down payment of $30,000 will be fully refunded.

How will OKIB come up with $26.8 million to purchase the property?

OKIB explored a number of options of how to pay for the property including borrowing the money, using some Canada Trust funds, and developing the land quickly to cover the costs. At this time there are two options:

  • Option A: will be to get Canada to make a down-payment on the Colonial claim and purchase this land for OKIB. This acreage encompasses part of the land that makes up the Colonial Claim. While OKIB and Canada are getting closer to final settlement, the timing of that is still uncertain. With the final settlement set to be much higher than the purchase price, it makes perfect sense for Canada to ensure we don’t loose the opportunity to obtain this land parcel while it is still available. This parcel represents the largest tract of land close to or adjacent to reserve that OKIB has the opportunity to obtain.
  • Option B: will be to finance the purchase of the land with a commercial bank and then quickly develop a portion of it to pay the costs of purchasing it. This option is not as ideal as it means paying interest to the bank, taking away funds that could be spent on programs and services.

What if OKIB cannot convince Canada to pay for this land? How will OKIB purchase this?

If we cannot come to agreement with Canada on purchasing this land and decide against bank financing, OKIB can decide walk away from the deal and we will get all our deposit money back in full. OKIB administration will update the membership regularly with these negotiations and ensure the membership is informed of all steps.

Does Chief and Council support this purchase?

Yes. Returning the land back to its original owners makes good sense now, and will certainly prove to be a wise investment in the future. Chief and Council support the initiative; however, they want to know your opinion.

“I believe it is our duty to return this land to the original owners,” says Chief Byron Louis. “The land is adjacent to our border and it will be sold to someone. Opportunities to expand the reserve do not come around often and we are in a good position to act. For posterity, we need to add these 2,310 acres back to the reserve.”

Maps

Here are some useful maps of the area that show various features and easements

Key Dates

  • Tuesday, December 7, 2021 at 6 PM – Community Forum via Zoom. Click to join the meeting.
  • Early January 2022 – In-person community engagement sessions
  • Fourth week of January 2022 – Community Vote
  • End of July 2022 – OKIB must come up with $26.8 Million to close the deal

Other Resources

Below is the information package prepared by Kent MacPherson who is representing the vendor: