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City of Powell River provides update on sale of former Catalyst administration building

Director of properties, development and communications addresses Westview Ratepayers Society meeting
UPDATE PROVIDED: City of Powell River and Meridian 125 W Cultivation Ltd. are working on the sale of the former Catalyst Paper administration building and adjoining parking lot for a craft cannabis operation.

Westview Ratepayers Society members were recently provided an update regarding City of Powell River’s agreement with Meridian 125 W Cultivation Ltd. to purchase the former Santé Veritas cannabis operation site in Townsite.

At a September 22 ratepayers meeting, city director of properties, development and communications Scott Randolph said in June of this year, city council approved the purchase of the property with Meridian 125 W Cultivation Ltd, for two properties. He said one was a property currently being leased to Santé Veritas, which is the former Catalyst administration building and part of the land behind it. He said the second was an approximately one-acre portion behind the building, which contains an empty parking lot. The purchase is for the purposes of licensing and operating a craft cannabis operation.

Randolph said the agreed upon purchase price for the building and land is $900,000.

“The subjects on this deal include that the city and Santé Veritas agree to demise the current lease for purchase of the property,” said Randolph. “It also involves the successful subdivision of the property at the expense of the purchaser, and agreement securing the first right of refusal to purchase the property back for the original $900,000 price, plus any capital improvements to the property.”

Randolph said unless both parties agree to an extension, all conditions of the agreement were to be removed by September 30 and the sale is set to complete on or before November 30.

Randolph said these parties have been working on subject removal. He said there had been a couple of hang-ups with the surveyor getting the work done on time for the subdivision, so an extension had to be put in place until the end of October to finalize the subdivision.

“It’s going to hold us up a little bit,” said Randolph, “but hopefully we can get it back on track pretty quickly.”