Administration will suggest next steps for the brownfield site after a tax sale received no bids
The City of Thunder Bay couldn’t find anyone willing to pay nearly $2.4 million for the former paper mill property.
On Tuesday, officials opened tenders for 550 Shipyard Road along with other properties listed for sale due to unpaid taxes.
No one submitted bids for the brownfield site located on the waterfront, where a mill operated for almost a century before it was torn down.
The lowest offer the city could accept was $2,351,000, which is what’s owed in taxes.
This property was previously owned by Superior Fine Papers and was bought in 2019 by Alan Cheeseman, who runs Wilderness North just across the street.
Cheeseman mentioned that there was already about a $2 million tax bill when he acquired it. He aimed to rehabilitate the area, keep some parts as greenspace, and bring in business or industry to where the mill used to be located.
In an interview earlier this month, he expressed disappointment over not being able to work something out with the city. However, the city’s response indicated that they are dedicated to supporting redevelopment opportunities within legal limits.
Kathleen Cannon, director of revenue for the City of Thunder Bay, had said that if no bids were made during the tax sale, city administration would come up with a recommendation for council.
She stated options might include forgiving some or all of the owed taxes, doing nothing and letting the tax bill grow larger, taking ownership of the property and keeping it, or taking ownership and selling it on the open market.
Cheeseman noted that even if the tax sale didn’t succeed, he would still like to work together with the city on redeveloping the property.
Source link
Source link
