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SOMBA K'E/YELLOWKNIFE
Frustrated by an apparent lack of consideration by the city in its Smart Growth or draft general plan, a group of Kam Lake property owners have formed an association to make sure their voices are heard.

Kam Lake resident Gary Jaeb, pictured with granddaughter Zoey Jaeb, 2, is one of a number of Kam Lake residents asking the city to consider rezoning property in the Kam Lake industrial park to make it easier to refinance homes. - Laura Busch/NNSL photo

The group is still in its infancy, but the Kam Lake Property Owners' Association have been meeting to discuss a number of issues - one of them being the inability of so-called "caretaker" residents from being able refinance their homes because Kam Lake is zoned as an industrial park.

The city allows Kam Lake property owners to build homes there in order to watch over factories and construction yards filled with expensive equipment, but the industrial zoning makes it difficult to get a mortgage on the home, says Gary Jaeb, who owns True North Safaris - a big game outfitting company headquartered on Enterprise Drive.

Jaeb has a four-bedroom caretaker residence on the property he would like to refinance but he said the Canadian Mortgage and Housing Corporation (CMHC) won't give him a cheaper residential mortgage rate due to the industrial zoning.

"We're strapped financially," said Jaeb.

"The government shut down the caribou hunting and, you know, our tourism business is struggling ... and we're trying to refinance."

Also, Kam Lake property owners are allowed to have only one residence per lot.

Rezoning the area to a mixed use designation similar to Old Town would allow Kam Lake residents to obtain CMHC mortgages, Jaeb said.

This would mean that instead of having to pay between 30 and 40 per cent for a down payment to purchase a lot in Kam Lake, buyers would only have to put 10 per cent down.

"Because of financing, young people could come and buy properties or buy buildings out here and live here and start businesses," said Jaeb.

"It would, I think, help deal with the housing shortage and the cost of living."

Eric Sputek, owner of Hovat Construction, said the Kam Lake Property Owners' Association, which is about 20 members strong right now, wants to work with the city on development concerns.

"Now that the city is growing and the city is talking about developing property on Grace Lake and there's talk of a new residential area on Coronation Drive - that's going to bring the city closer to the industrial park, so there are a lot of things that need to be talked about," said Sputek.

The city and the association held a meeting about the rezoning issue on Wednesday, Nov. 2. The city is currently mulling over suggestions coming out at the meeting and will be presenting draft recommendations to Kam Lake property owners next month, Sputek said.

Mayor Gord Van Tighem declined to comment on the rezoning issue, stating in an e-mail the city would prefer to wait until official recommendations have been presented to city council.

"It's going to be interesting to see how it plays out," said Niels Konge, owner of Konge Construction.

"I'm pretty happy that the city, instead of just rezoning it, they're actually consulting with the people affected beforehand. That, I think, is very smart on their behalf."

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