$80-million agreement for Central Elgin over annexed land for Volkswagen plant
The Municipality of Central Elgin has settled compensation negotiations with the City of St. Thomas in relation to the municipal boundary adjustment that saw lands annexed to make way for the new Volkswagen plant.
The $80-million agreement announced Friday is said to include monetary compensation and infrastructure to grow industrial and residential tax bases.
“This deal not only addresses the present-day affordability concerns that this council has been elected to address, but it also ensures future opportunity that will continue to drive prosperity for generations to come,” said Municipality of Central Elgin Mayor Andrew Sloan. “It also sends the message that Central Elgin is a great place to invest amidst this time of unprecedented growth and opportunity for our region.”
The province will also be working with the Central Elgin on the future sale of the former St. Thomas Psychiatric Hospital property as part of the recently announced Site Preparation Pilot Program.
The site will be repurposed for residential development that will contribute to provincial housing targets, further expand the Municipality’s tax base, and provide local housing options as the Municipality grows in relation to the nearby PowerCo facility.
The agreement includes
- Central Elgin will receive an immediate payment of $10 million, with an additional $5 million to be received on a five-year payment schedule to begin in 2027
- Central Elgin will gain access to 6,000 cubic metres per day of wastewater treatment capacity that will support the development of industrial and residential land within Central Elgin
- Central Elgin will also receive 1,700 cubic metres per day of wastewater treatment capacity to support the redevelopment of the former St. Thomas Psychiatric Hospital property for residential use, which will result in further growth of Central Elgin’s tax base
- Benefits to Elgin County from further expansion of the Central Elgin tax base and provide valued support in attracting investment to the serviced lands
CTVNews.ca Top Stories
![](https://www.ctvnews.ca/polopoly_fs/1.6972699.1721656892!/httpImage/image.jpg_gen/derivatives/landscape_800/image.jpg)
WATCH LIVE Secret Service chief will be questioned over security failures before Trump assassination attempt
The Secret Service director is set to testify Monday before a congressional committee as calls mount for her to resign over security failures at a rally where a 20-year-old gunman attempted to assassinate former President Donald Trump.
Hollywood reacts to Joe Biden exiting the U.S. presidential race
Hollywood was quick to react to the news that U.S. President Joe Biden was ending his bid for re-election and endorsing Vice President Kamala Harris.
What to know about the Canadian ties of Kamala Harris, Biden's choice for successor
U.S. President Joe Biden is stepping aside as the Democratic candidate in that country's November election and throwing his support behind Vice President Kamala Harris -- a Montreal-area high school graduate who spent several years in the city.
Canadian killed near Gaza border after threatening forces with knife: Israeli police
Israeli police say a Canadian citizen was killed Monday after threatening Israeli security forces with a knife near the Gaza border.
Markets bet on second Bank of Canada interest rate cut coming this week
Economists and market watchers are betting the Bank of Canada will deliver another interest rate cut this week amid mounting evidence that inflation is sustainably easing.
The pilot who died in crash after releasing skydivers near Niagara Falls has been identified
Officials on Sunday released the name of a pilot who died in a skydiving flight after her passengers jumped from the aircraft near the Niagara Falls.
Canadian musicians struggle to get visas to perform in the U.S., some cancel shows
Backlogs and processing delays of temporary U.S. visas required by entertainers, athletes and artists has forced some Canadian bands to cancel U.S. tour dates because paperwork wasn't processed in time.
Harris looks to lock up Democratic nomination after Biden steps aside, reordering 2024 race
U.S. Vice President Kamala Harris moved swiftly to lock up Democratic delegates behind her campaign for the White House after President Joe Biden stepped aside amid concerns from within their own party that he would be unable to defeat Donald Trump.
Justin Trudeau reacts to Joe Biden announcing he won't run for re-election
Prime Minister Justin Trudeau responded to the news that U.S. President Joe Biden won’t run for re-election Sunday, calling Biden a 'true friend.'