The city brought in close to $800,000 after selling eight lots on Anderson Avenue.
The money will go into the land sale reserve account, and be used to purchase other properties that are part of council’s strategic plan.
Mayor Sharie Minions said the sale has benefits further than just the initial profit.
“That’s $800,000 that we will have in our Land Sale Reserve right away, but additional to that we expect that houses will be built and that will create long-term taxarion as well,” she said.
Minions said some of the money from the Anderson Avenue land sale will go towards purchasing the new public safety building on Third Avenue which will be home to bylaw officers, community policing, and protective services.
Comments