Deal in works to sell old General Motors site in St. Catharines
The former GM site in St. Catharines could be sold by the end of this month.
City Solicitor Heather Salter telling council last nighte, negotiations have been ongoing between the second mortgagee of the property and a third party
Salter noting "An agreement of purchase and sale has been signed. There are some conditions that need to be satisfied, but I am cautiously optimistic that there will be a sale of the property prior to September 20th."
Developer Losani Homes had expressed interested in buying the property in the past.
The former owner of the property, Bayshore Groups, owes the city more than $1.59 million in property taxes.
If the deal doesn't close by September 20th, representatives for the city of St. Catharines will be trying to overturn an earlier court decision and clear the way for a tax sale to recover the money.
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