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Friday, October 13, 2017

Numbers Revealed in pre-expropriation talks

Wasaga Beach | by Mariane McLeod  

owners of 140 Main wanted $1.3 million from town

We're getting some of the numbers from the talks between the town and the new owners of a property on Main Street the town is about to expropriate.

Wasaga Beach's Economic Development Director, Andrew McNeill says he had informal talks with Anthony and Mark Frisoli. McNeill says they wanted the town to pay $1.3 million for the land at 140 Main street. In a later conversation, the Frisolis came down to $1 million.  They have said they paid $750,000 for the site. McNeill says they overpaid for the land, and will get fair market value in the expropriation.

McNeill says there was never a formal offer from the town to purchase the property. He says the town council voted to expropriate because it was clear the owners were not interested in working with the town.

McNeill says the town will likely have control of the property in the next four to five months, but working out what the final price will be for the property might take longer. He also says there will be some costs to the town to expropriate.


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