Councillor Bannon Provides The MLRA With Another Update On The Park Plan.

by · November 8, 2012

The Good news, everything is proceeding… just not as quickly as we would like. New date set to finalize the land transfer deal is February 28, 2013.

Person Climbing a Stack of PaperPlease 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. New date set to finalize the land transfer deal is February 28, 2013.

THE UPDATE

Town Staff and representatives of the Estate have been working through the summer/ early fall to finalize the land acquisition. Discussions between Staff and representatives of the James Coultice Estate have occurred and as such, it is recognized that additional time is required to finalize the transaction. Staff and the Solicitor for the Estate have agreed upon a new clearance date on the Conditions for the Offer & Purchase Agreement of February 28, 2013. This additional time will allow for the finalization of the Reference Plan to create the appropriate property description and allow more time for the estate to complete these complicated negotiations with the Canadian Revenue Agency.

Filed Under: MLRA News