Yellowknife (Jan 17/07) - City council agreed on Monday to sell four lots on Franklin Avenue to developers planning to build a resort on Twin Pine Hill.

Yellowknife River Resorts needed the four lots to build entrances to the hilltop location.

Only Coun. David Wind voted against the motion, because the value of the lots was last appraised in 2005. "The offer price has not been adjusted to 2007 prices," Wind said.

He also said he felt the city's integrity had been put into question, because although the developer had missed deadlines, the city still offered the land exclusively to Yellowknife River Resorts.

Darrell Beaulieu, representing Yellowknife River Resorts, asked council to sell the four lots at the 2005 price. He said that since that time, estimated costs for the project have skyrocketed, with building products rising 30 per cent above the 2005 price tags.

The proposed luxury hotel and resort on Twin Pine Hill is estimated to cost about $25 million to build.

Some councillors said they didn't feel comfortable with how the Yellowknife River Resorts deal had progressed, but felt bound to approve it.

"I have great concerns about this deal," said Coun. Kevin Kennedy.

Coun. Mark Heyck said the city and council must live up to their obligations. He said a 10 per cent non-refundable deposit written into the sale agreement with the developer should ensure the group pushes forward with the project.

Coun. Bob Brooks said he was content with the deal.

"I'm pleased to see (this) finally come forward," he said. "And it's good to see all the time and effort wasn't wasted."