At today’s regular meeting of Council, City Council decided to sell
the Webster Industrial Park lands rather than proceed with developing them at
This comes after a thorough eight-month
review of the project and coincides with the completion of the subdivision plan
and detailed engineering work.
“One of the priorities in the new
Strategic Plan was a review of the Webster project,” says Mayor Marshall
Chalmers. “We’re confident in the recommendations provided by
Administration and other industry experts.”
Following the review by Administration, it was
determined that the
costs to develop would result in the need to borrow more funds than originally
planned. This could potentially put the City in a position of exceeding its
borrowing capacity and further place restrictions on borrowing for future
The City plans
to sell the parcel to a private developer, based on
current market conditions.
this project may not be feasible for the City at this time, we believe it is a
great project for a private developer,” says
Chalmers. “A significant amount of work has been done that would make
the lands an attractive investment for the private sector.”
Letters of Intent (LOI) for the ten parcels of land that were entered into by
the City have all been mutually released at no cost to the City.
“Our community is still open for business and we will continue
working to increase the non-residential tax base,” says Chalmers.
The City is looking to pursue other means of increasing the
non-residential tax rate including working with private developers to
prioritize commercial and light industrial areas, exploring business attraction
and retention programs and investigating innovative opportunities for business
Webster Light Industrial Park is located at the corner of Township
Road 240 and Range Road 282.