June 21, 2018
by Nathaniel Johnson The Welland Tribune
A proposed five-storey, 130-unit retirement home residence behind Welland Community Wellness Complex will bring new residential development to an area of the city that needs it, said Ward 1 Coun. Mark Carl.
Carl said once complete, the city will start collecting taxes on a piece of property that sat vacant for years.
He also said it will bring new people to Welland, which will help local businesses as those people get out and spend in the community.
The property, at 439 King St., is just south of the wellness complex and sits on the east side of Welland Recreational Canal, council heard Tuesday night.
Once complete, the city estimates the assessed value for the land and building at $33 million.
City chief financial officer Steve Zorbas said when the city owned the lands, there was no tax being collected on it.
“It was assessed as vacant commercial lands,” he said.
Council heard owners of the property applied for a tax increment grant, urban design grant, residential grant and planning and building fees grant through the city’s various incentive programs.
Grant Munday, Welland’s manager of development approvals, said while some of the land was considered brownfield, it was unlikely the developer would be applying for any grants under the brownfield community improvement plan.
“I’m not sure it would work with their timing, they want to get the project underway,” he said.