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Posted: Dec 18, 2020 10:37 AM CT | Last Updated: December 18, 2020 Smith Street Lands Ltd. asked for a tax exemption on almost $700,000 owed to the city.(Bryan Eneas/CBC) comments Regina city council has rejected a developer s request for a property tax reduction. Smith Street Lands proposed buying the property formerly slated to house Capital Pointe, but said it would only do the deal if city council reduced tax penalties on it by about $692,562.60. Those penalties have been accumulating since July 2018. Robert Goldman, president of Smith Street Lands, and lawyers Tony Merchant and Dave Brundige all spoke to council on the request on Wednesday. City administration recommended council deny the request. ....
City council denies tax break for potential Capital Pointe buyers cjme.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cjme.com Daily Mail and Mail on Sunday newspapers.
Following the private meeting council still voted against the request to cancel the penalties. “Council and myself want the cost to fill this hole and the back taxes payed, full stop. Which is why administration is in the process of foreclosing on property tax arrears,” Sandra Masters, the Mayor of Regina said. “Anything we can do to facilitate the property taxes coming back into the city we are open to. At the end of the day, from a legal perspective, we were advised by our administration that this is unprecedented, we are not within the purview of the law to grant it. ....
No decision on tax excusal on former Capital Pointe site; council calls in-camera meeting The company looking to buy the land said the deal will fall through unless the city excuses almost $700,000 in owed property taxes Author of the article: Alec Salloum Publishing date: Dec 16, 2020 • December 16, 2020 • 3 minute read • A for sale sign stands in the lot that was, for many years, the Capital Pointe hole on the corner of Victoria Avenue and Albert Street in Regina, Saskatchewan on Dec. 16, 2020. After a Wednesday council meeting progress at the lot is still pending. Photo by BRANDON HARDER /Regina Leader-Post Article content Regina city council was not able to decide on whether or not to excuse almost $700,000 in property taxes on the former site of the Capital Pointe project during its Wednesday meeting. ....
REGINA Regina city council is requesting a private meeting with a group of developers looking to buy 1971 Albert St., the former site of the failed Capital Pointe project. Smith Street Lands Ltd, which includes lawyer Tony Merchant, wants to purchase the site by Jan. 18, 2021. The group is asking the City to eliminate the approximately $692,000 in property tax penalties left over from the former developer. A group representative said it will cancel the purchasing process if the city does not eliminate the penalties. The group offers to pay around $2.25 million dollars to cover the cost to backfill the site and the several years of property tax arrears. ....