The sale of the former HUB land is official.
In a memo during yesterday’s budget meeting, it stated that the net proceeds of the sale would be transferred to the General Building Reserve and would be tracked separately for future projects related to recreation facilities.
The property on Ireland Road sold to Big Sky Simcoe GP Inc. (Calibrex) for $4.35 million, along with a partnership with the Haldimand-Norfolk Housing Corporation to develop a 1.5 acre parcel for affordable housing.
When all was said and done, net proceeds of the sale of the property were over $864,000.