There is more than eight kilometers of lakeshore south of the highway 97 bridge in Kelowna, much of which has sandy beach.  Most of it is also privately owned up to the high water mark, and below the high water mark there are docks and sometimes other structures that make public use of the foreshore difficult and far from welcoming.  Restoring public ownership of lakeshore above the high water mark would provide a valuable recreational asset to Kelowna residents, as well as limiting structures vulnerable to flooding damage.  However, it will be expensive.  Kelowna could set a maximum development density, and then allow developers to purchase exemptions from this density limit in exchange for purchasing lakeshore properties and giving them to the city.  There is an MA thesis that is more than 40 years old at UBC which studies this type of policy!  And it has been considered by the Regional District of Nanaimo (http://www.rdn.bc.ca/cms/wpattachments/wpID3629atID8277.pdf).