By Pam Wright
Local Journalism Initiative Reporter
Instead of the municipality buying back three properties in the Bloomfield Business Park, the owners are being offered a final go at developing them.
Council agreed to forego the re-purchases following a motion from South Kent Coun. Anthony Ceccacci at the Feb. 24 Chatham-Kent council meeting.
A report earlier from economic development services had recommended buying back the properties. However, Ceccacci’s motion is sending the matter back to administration so municipal officials can engage in further talks with the owners.
According to Ceccacci, he spoke with the owners who told him they are still interested in developing the property.
“I would just like to see if development services and administration can meet with the owners and see if a suitable timeline can be put in place to ensure some development on the property,” he told council.
There are two 2.5-acre parcels involved, as well as one three-acre lot. The smaller lots are $225,000 each, with the larger lot priced at $267,000. The municipality, if it buys them back, would be paying the original purchase price.
The business park parcels were sold in 2022. The municipality had deadlines, which were included in the purchase agreement, on when construction was to begin. Those deadlines passed.
According to the report to council, higher interest rates and a weakened economy were the reasons behind the delay.
A report on the matter will be presented to council at a future meeting.
A discussion around expanding the Blenheim Business Park is also expected to come before council in the near future. Ceccacci is asking administration for a report, noting he wants land to be readily available for development in the park.
