A local Catholic Church group has only one major obstacle in its bid to keep alive plans for a new home in an undeveloped southeast subdivision.
The agreement is iminiment which would have Clearview Developments, the subdivision developer, pay the City of Lethbridge up to $3 million in financing costs the city would incur by building a new sewer lift station a year earlier.
Without the pending deal, plans would likely have died for All Saints Roman Catholic Parish subdivision, south of Highway 4 and just east of Fairmont.
The city council gave the city administration the approval to explore a cost neutral development scenario which would allow the $18 million sewer servicing project to construction in 2011, instead of 2012. However, any agreement still requires the council’s approval.
In September, a local consultant appeared before the council on behalf of Clearview offering to cover roughly $2 million in interest costs to advance the project. However, according to the city’s community planning manager, the trust cost of advancing the project will be approximately $3 million.
It was also indicated that Clearview is likely willing to put up the additional money necessary to fast track the problem, which is good news to hear.
The All Saints parish was formed after the recent merger of three older parishes in east Lethbridge. Construction of the new church is expected to take 2 years.
Heleen Jacobsen
Broker of Record with InfoMarket Group GMAC Real Estate
www.infomarketgroup.com
