Elk Point is implementing new initiatives to promote growth.
The community has put in place incentives for residential improvements and new builds, as well as for businesses coming into town using the industrial areas.
Mayor of Elk Point, Lorne Young explained, “We are always looking at ways to attract new business to town.”
Recently, town council approved the sale of an industrial lot for $1.00 to Lakeland Cannabis Corp.
The company will be using the land to grow cannabis. The company will begin soil testing soon and is expected to begin excavation for sewer and water lines.
The Town has sold another parcel of land in the north industrial area for $1.00. The approximately 32 acres is unserviced and worth about $5000 per acre. There is no deal to reduce or defer taxes on the land. Adding services will be the responsibility of the owner.
While the low price reduces the value of the town’s assets, Elk Point council sees the enormous payback in employment, taxes and infrastructure as worth the losses.
Auditor of the town’s finances, Jeff Alliston of Metrix Group, supported the $1 land deals as worthwhile to attract and grow businesses.
“We have the land available and want to make it attractive for potential investors,” stated Mayor Young.
In each case, Young explained that council “reserves the right to sell at a price” they deem appropriate for the situation, which means the town will not always sell at that price but are open to hearing offers from potential investors.
The Town of Elk Point also has incentive programs in place for people looking to make improvements to their residential properties or to build new on existing residential land.
For more information on these programs visit http://elkpoint.ca.