Skip to content

Sale of leased properties could cost taxpayers (11/01)

Leaseholders on Sandy Beach Road in Thunder Bay are disgruntled by the city's proposed five-year lease and are requesting a 15-year lease on properties, along with a valuation of leaseholder-owned buildings, before signing a new lease.
0

Leaseholders on Sandy Beach Road in Thunder Bay are disgruntled by the city's proposed five-year lease and are requesting a 15-year lease on properties, along with a valuation of leaseholder-owned buildings, before signing a new lease. Leaseholders considered purchasing the property from the city; however, should the city decide to sell the property to homeowners, the move could cost Thunder Bay taxpayers upwards to $5 million to upgrade the sewer and water supply. According to the Landlord and Tenant Act, the city may be required to provide potable water and sewage for the leaseholders if the property is sold. The current lease expires Dec. 31.




Comments