Elliot Lake’s economic development manager, Steve Antunes, is recommending the sale of the city-owned Stone Ridge Golf Course for $1.5 million to council.
He says the Ontario numbered company responsible for renovating downtown properties wants to buy the property, which will be the focus of a discussion at tonight’s council meeting.
Antunes brought the offer before council at a closed session on January 10th, adding the municipal land sale policy usually includes an appraisal, but in this case, the appraisal would be impractical.
He emphasizes the course has required a heavy investment by the city and Elliot Lake Retirement Living but has consistently shown a loss over the years.
Antunes adds of the $1.5-million, $1 million would go towards paying off a loan and the city will no longer have to pay out $120,000 a year in maintenance and operating costs.
He says the city would also gain another $27,000 in taxes per year by selling the property.
The matter will be discussed at tonight’s council meeting.
Some local residents and business owners are upset with the lack of public input and are hoping their petition to stop the sale, for the time being, will also be heard.
