One action which resulted from the public meeting was that the town hire a consultant to determine if it is in the town's interest to appeal the PropertyValuation Services Corporation's assessment of MBP&P. Jamie Simpson suggested this and others including former town councillor Peter Murray agreed.
The PVSC lowered its assessment from $6 million when the building was operating to $1.5 million as an obsolete production facility - ie a warehouse. Its current figure is based on $8 per sq.ft.
Both the Mayor and CAO said that the town lawyer and PVSC advised against appealing the decision. If the town lost the decision, the assessment would decrease to $4 per sq. ft. The mayor stated it could also have a negative effect on the town's relationship with Scotia Investments.
What do you think?
What do you think?
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