(Photo: The Jubilee Plaza hosts a number of cultural and community celebrations. Bradley Karp / AFTERNOON REPORTER)
Council wants administration to negotiate with the provincial government to buy its 51 per cent stake in Jubilee Plaza.
“I would like to pay nothing, or at the very least send a nice letter along with it saying all the times we’ve bailed the province out over the last couple of years here in terms of the money we’ve saved over the education tax, the medevac and stuff like that,” said Councillor Tyran Ault.
Administration says the move would save the Municipality $126,922.
“I really hope we can take this at a political level, reach out to Premier Notley the new NDP government and show with a big list of this is what this Municipality has done to help the province. Now where is the province going to help the Municipality,” said Ault.
The land is valued at $323,750 but the Municipality is leasing the land for $450,672 over 23 years by making annual payments of $25,900.
The RMWB owns the other 49 per cent of the Jubilee Condominion Corporation. Administration also notes that buying the land from the province would help protect the $16.9 million invested by the RMWB to turn the lot into an urban plaza for the community.
