Do not buy a paper.
Moncton ends controversial parking deal
Toronto company plans new development
Moncton will pay $455,000 to end a controversial parking deal which will allow a new development to be built on a prime piece of downtown real estate.
Coun. Brian Hicks raised concerns in February that a 10-year deal to give 385 free parking spaces to a Toronto developer could turn into a 50-year arrangement.
Last week, Hicks negotiated a solution that will have the city pay $455,000 to the developer, who will now build in the area. Hicks won't say what the developer will build but he feels it's going to be an exciting project.
“I, and council, know of Plan A and Plan B, both [are] extremely exciting. The fact is something finally is going to be built on these lands, which were acquired in 1998 by the city,” Hicks said.
“The fact is once buildings go up, the parking spaces used for Roger's will disappear and parking infrastructure will be needed.”
Read more:
http://www.cbc.ca/news/canada/new-br...-deal-834.html