Council to debate Cornerstone land transfer agreement

Prince Albert City Hall -- Herald File Photo.

Prince Albert City Council is set to vote on a land transfer agreement that will clear up ownership of a few lots in the Cornerstone development near 15th Street and 10th Avenue East.

The plot in question is Surface Parcel #203243071, which includes more than six acres of land located along the development’s southern perimeter. The land has been held in trust by the city for roughly three years.

“We’ve been dealing with this for a number of months,” City Manager Jim Toye said. “We kind of got caught up with lawyers and finally it’s coming to fruition. Really what it does is put to bed the ownership on all the land of the south side of that particular parcel.”

If approved, the land will be turned over to Springwood Developments via transfer agreement. In return, the city will receive the sum equivalent of taxes that would have been levied in 2015, 2016 and 2017. According a report written by Toye, that will amount to an additional $98,927.64 for the city’s coffers.

For the rest of this story, please see the Jan. 6 online or print edition of the Daily Herald.

Thierman Financial