$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
Blaine Higgs 'furious' over sexual education presentation
New Brunswick Premier Blaine Higgs has shared his anger on social media over a presentation in at least four high schools.
Grayson Murray, two-time PGA Tour winner, dead at 30
Two-time PGA Tour winner Grayson Murray died Saturday morning at age 30, one day after he withdrew from the Charles Schwab Cup Challenge at Colonial.
This type of screen time has the worst effect on kids: experts
According to some experts, there is one type of screen time that is continuously excessive, and it's having a severe effect on our children.
Man throws flaming liquid on New York City subway, burns fellow rider
A man set a cup of liquid on fire and tossed it at fellow subway rider in New York City, setting the victim's shirt ablaze and injuring him.
'Furiosa,' 'Garfield' lead slowest Memorial Day box office in decades
Movie theaters are looking more and more like a wasteland this summer. Neither "Furiosa: A Mad Max Saga" nor "The Garfield Movie" could save Memorial Day weekend, which is cruising towards a two-decade low.
Trump confronts repeated boos during raucous Libertarian convention speech
Donald Trump was booed repeatedly while addressing Saturday night’s Libertarian Party National Convention.
Driver, 18, gets $3,000 ticket, 32 demerit points after speeding on Laval boulevard
A young driver received a hefty fine from Laval police after they say he was driving nearly 100 km/h over the posted speed limit.
Sirens sound in Tel Aviv for the first time in months as Hamas says it fired rockets from Gaza
Rocket sirens sounded across central Israel, including in Tel Aviv, for the first time in months on Sunday, as Hamas claimed to have fired a barrage of rockets from Gaza.
At least 9 dead in Texas, Oklahoma and Arkansas after severe weather roars across region
Powerful storms killed at least nine people and left a wide trail of destruction Sunday across Texas, Oklahoma and Arkansas after obliterating homes and destroying a truck stop where drivers took shelter during the latest deadly weather to strike the central U.S.