Talks with Canada Revenue Agency once more delay finalization of Community Park
Please be patient as the deal is still proceeding. Although the Park Plan deal was to have been closed this month, extensions are a common occurrence when you have three parties involved with three lawyers.
The Town has extended the closing date once more to allow discussions to continue between the Coultice Estate and Canada Revenue Agency.
Apparently the sticking point in the whole negotiations boils down to the Community Park. The CRA is at this time is satisfied that the donation of 135 acres of environmentally sensitive land will be handled under the Eco Gift program. However the C.R.A. has ruled the 4-5 acres of land for Community Park does not qualify as a donation under the Eco Gift program. It now appears there is a way out by splitting the applications and putting the Community Park under the Community Gift Program.
The Town is still working with the Coultice Estate and the C.R.A. to divide the applications and make this happen. April 3, 2014 was arrived at as a date reasonable for all the lawyers to file the correct paperwork to satisfy all parties.
All partied involved in this transaction are motivated to close the deal so we are certain that it won’t be long now. The deadline extension doesn’t really delay the park too much as work The Park could not have been started until spring anyways.
We would also like to THANK the Town Staff and especially Councillor Bannon for not giving up on this idea.
Councillor Bannon has asked us to share this email with everyone.
Dear Residents of Ward Two,
This is a matter that is close and dear to my heart. It has been a long journey to get where we are today. Discussions with the James Coultice Estate are still very active. Work continues on their submission/negotiations with Revenue Canada for the Eco-Gift valuation for the dedication of the environmentally sensitive lands and the parkland block to the Town. The Agreement has been extended to April 3, 2014. The determination of the land valuation is a critical component of this process.
Staff are hopeful that this phase of the work program will be wrapped up by April, so that they can initiate community consultation on the design and the identification of features/facilities within the park block.
Merry Christmas & Happy New Year.