Grimsby’s Finance and Administration Committee withheld support for a possible $500,000 brownfield grant for Brite Developments’ project at 27 John St.
The condo project would be Phase 2 of Rise, which has had its Phase 1 at 22 John St. sell out already.
The projects are being built on lands which were formerly Grimsby Stove and Furnace. To be able to build on the site, Paul Borejsza of Brite Developments said 530 trailers of soil had to be hauled away from the site over two months and replaced with clean fill.
This was followed by two months of a compaction program to get the site up to proper grade.
“The grant is great because it can give a developer a chance to overcome major financial obstacles. It changes the financial picture,” he told the committee.
Ald. Steve Berry spoke against the proposal citing the hot real estate market, the low value of the land when acquired and speed and rate for sales on the back end.
“The demand is great. If the situation was different…but I have a hard time putting this grant on existing taxpayers,” said Berry.
Ald. John Dunstall disagreed.
“It is a stimulus we need to provide. Developers have not been knocking on the door to develop it. I would support it,” said Dunstall.
While Ald. Dave Kadwell said he wanted to see more information before making a decision, committee chair, Ald. Carolyn Mullins said it will be up to council to decide if there will be municipal support for the grant application.