04-17-2017, 12:11 PM
(04-17-2017, 09:27 AM)tomh009 Wrote: The RFB Development proposal looks interesting:
https://static1.squarespace.com/static/5...oposal.pdf
However, they're expecting a lot from the city:
- Offer is conditional on preliminary Site Plan approval and project financing.
- Offer is conditional upon the satisfaction of the buyer as to the condition of the building and property.
- Buyer to be granted a six month time frame following the acceptance of offer to perform all due diligence required for the project.
- Project to commence following final Site Plan / Building Permit approvals.
- City of Kitchener to waive all Site Plan Approval / Development fees.
- City of Kitchener to waive all Heritage Impact Assessment & Conservation Plan / Heritage Permit Application fees.
- City of Kitchener to waive all Building Permit fees.
- City of Kitchener to waive all Property Taxes until completion of project.
- City of Kitchener to be responsible for all utility costs until completion of project.
- Balance of 99% of the property purchase price to be paid to the City of Kitchener immediately after the completion of project.
- Any existing and/or uncovered environmental health and safety issues to be disclosed by the City of Kitchener after acceptance of offer.
- Community kitchen, gallery, and music venue to be leased back to the City of Kitchener at fair market lease rates.
- City of Kitchener to provide parking in the garage across the street for the hotel (20 rooms = 20 spots) as well as additional parking for the community kitchen, gallery, and music venue.
99% of property price paid AFTER the completion of the project? Good luck with that...
Are the other proposals available? The Perimeter and Voisin ones would be interesting to see.