Minto council has declared several lots here surplus to clear the way for their sale for residential development.
CAO Bill White reported at the Feb. 3 meeting the town has received an offer from Rick Molenaar of Moorefield to purchase Lots 267 and 268 and Part Lots 316 to 321 on Ann Street in Clifford for a total of $180,000.
The lots are part of a parcel of land including 32 lots along Ann Street, the former rail line north to West Heritage Street, and the former rail line south to the 13th Line acquired by the town as part of a settlement of a $1.8 million lawsuit in February of 2013.
While some servicing of the lots will be required in order to facilitate development, White anticipates the sale will generate sufficient funds to cover servicing costs “as well as a contribution back to the original purchase price of $440,000 for all the former rail lands.”
The report notes the purchaser plans to phase the lot purchase and proposes to build multiple-family dwellings on Lots 267 and 268 in 2015, and then finance that project to buy and develop Lots 316 to 321 in 2016.
The town will retain enough land behind Lots 316 to 321 to maintain the rail trail “which is consistent with our Walkable Community designation,” the report states.
