OPPONENTS of a controversial seniors housing complex on Mount Seymour Parkway are questioning why the District of North Vancouver is proposing to sell land to the developers at what they say are rock-bottom prices.

"From a common-sense value, I feel ripped off as a taxpayer," said Joseph Bowes, who has been outspoken against the project.

Both Bowes and veteran council watcher Corrie Kost recently questioned why the municipality appears willing to sell several parcels of land required for the development at a price considerably less than they say the property will be worth once the land is rezoned by council.

But district staff say developers are actually paying the municipality a "premium" above the land's current value -- just not as much as opponents think that amount should be.

Council unanimously passed third reading of a rezoning bylaw and official community plan amendment for the property at its last council meeting July 12.

As part of the deal, the district is proposing to sell the developers several parcels of land totalling slightly more than 3,000 square metres for $3.3 million.

The deal puts the sale price of the land at about $1,108 a square metre -- or $103 per square foot, in keeping with land values for similar single-family zoned lots in the area.

But once the rezoning to a much higher density is approved, the land value will rise significantly, said Bowes.

For instance, the current land-only value of the nearby Roche Point apartment tower is twice that according to recent assessments -- at about $2,000 per square metre, or $183 per square foot.

Both Bowes and Kost have argued the difference represents a giveaway of more than $3 million from district taxpayers to the project's developers.

But the district doesn't agree.

Planning staff say the deal negotiated will still net the district more than developers paid for other land parcels assembled for the project in 2005 and 2006. According to B.C. Assessment when developers bought one of those parcels, they did so for about $66 per square foot of land value. That's considerably less than what developers are now willing to pay the district -- although it was also twice the assessed value of the land at the time the property was sold.

District planner Susan Haid said one of the reasons the land price negotiated isn't as high as for the neighbouring Roche Point tower is that the rezoning for the seniors complex will come with covenants restricting its use to seniors rental apartments, which will limit its market value.

But Bowes said in his books, that isn't enough to warrant selling the land for a price he thinks is too low.

Bowes said selling the land for a lower price than a higher-density zoning usually fetches would be more understandable if the seniors project involved more significant levels of nursing care or far more subsidized units.

He said the current project remains an option only for seniors who are both relatively well off financially (rentals are about $3,500 per month) and in relatively good health.

Before passing third reading of the bylaw, council did adopt one change to the project, accepting the developer's offer to reserve 10 of the 146 units in the 11-storey project for subsidized housing for the next 15 years.

Bowes said he still doesn't think that's good enough.

"What seniors need is assisted living. We're not going to get it," he said.

Council recently addressed the issue of how to value district land up for potential rezoning and development at a workshop where a consultant's report was discussed.

That report recommended that in cases where rezoning of municipal land will substantially increase land value, the district require either a cash payment or development of on-site amenity equal to 50 to 75 per cent of that increase in value.

"Community amenities" should be "commensurate with the value of the extra development opportunity," according to the report.

Kost said that's a step in the right direction. "It doesn't make sense to give public property away at less than market value," he said.

Council approved third reading of the Seymour project after an often-emotional council discussion.

All said the community benefit in allowing the housing project outweighed the fact the project didn't fit within the existing official community plan designation.

"The perfect solution is not attainable," said Coun. Roger Bassam. "By waiting for a perfect situation to come along, we could worsen the situation for our seniors."

Bowes said he still fundamentally disagrees with that position, adding council should have waited for a better deal for seniors.

Council is expected to consider final adoption of the rezoning and official community plan amendments early this fall.