Sale of Current Municipal Offices

Jan 20, 2018 | Developments, The Issues | 0 comments

Staff report on Jan. 22 Council summarizes the negotiated agreement with Zancor for the purchase and sale of the current Township Offices & plaza.  Sale price is $10,750,000 which is 50% of total costs of new Town Hall, the new community facilities (gymnasium) and York Region Police (YRP) substation. The financing of the other 50% is the capital contribution from YRP, development charges, infrastructure reserve and about $4 million provided through debenture financing.  As reviewed in the report this negotiated agreement meets our needs in terms of timing and financial value.

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