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By Subsidized Development (anonymous) | Posted March 30, 2015 at 10:50:52 in reply to Comment 110712
The public has put a lot of subsidy into this property over the past decade:
1) Waiving the costs of emergency demolition ($300,000) because it was given to a charity (who then sold the property to the husband of a board member, who is the condo developer)
2) $75,455 grant for stabilization
3) $50,000 interest-free loan
And very likely, the developer will also apply for a number of incentives through the downtown renewal division if the development goes ahead.
Doesn't the public have a right to have "exacting requirements" of this development?
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