Cornwall Ontario – Why is the City of Cornwall subsidizing Smart Centres to the tune of over $4M? I know it’s incremental. I know that it will raise the value of the property and increase the tax base, but Smart Centres is not a dumb company. It is getting a huge swath of real estate near the spanking new $75M Seaway International Bridge Norther Span.
That’s prime time real estate and a huge opportunity for the company. It will change the face of Cornwall forever; for good and for bad.
So why are we taxpayers giving “Charity” to a firm that has some of the biggest retailers in the industry as clients? $4M may not be a huge amount in their big picture, but for a city that is struggling with its tax base did we really need to give up this loot?
And why not have some sort of public consultation? Shouldn’t the taxpayers have some say over how Mayor Bob Kilger and his team splash our cash?
$4 Million dollars could do a lot to help small business in the downtown core and le Village; both areas that will be further devastated by this huge development. Is there any actual planning going on in our planning department?
While there are benefits for having this huge development there are negatives too. How many other back door subsidies has Mayor Kilger and the city coughed up.
Smart Centre has every right to develop property; but the City of Cornwall should not be subsidizing Mr. Goldhar’s company; not with our tax dollars.
For example who are the owners behind the corporations of the land purchased for the Industrial Park expansion and how much did they pay for the land that they sold the city? How much profit did the taxpayer subsidize on that deal, and how much was made by the usual real estate suspects and lawyers? If it was akin to the Benson Centre land deal that included nearly a million extra dollars for clean up the profit could be staggering.
And surprise surprise, Mr. Chenier announced further delays to his project at the corner of Pitt and Second. Will anything ever be built as long as he is at the controls of that project? Will the ugly blue fence come down and at least put some grass and benches while the years tick by?
What do you think dear viewers of CFN? Does any of this make sense to you?
Smart Centres has not responded to queries from CFN as of Press time.