Any construction of the Cedar Crescent Village or CCV development at Port Elgin’s main beach won’t be happening until this Fall at the earliest.
In a letter to Saugeen Shores council at the May 25th Committee of the Whole meeting, the investors had hoped to have shovels in the ground by early June but have yet to receive all approvals from groups such as the Saugeen Valley Conservation Authority.
However, the letter goes on to say, “In keeping with our partnership with the town and our commitment to our community, we are submitting our first land lease rent payment prior to the due date of June 9th.”
Saugeen Shores Deputy Mayor Don Matheson says the rent is just over $6,600 plus HST every month.
He says that computes to over $80-grand a year in lease payments and he believes it shows why the town agreed to a 50-year lease deal.
Councillor Dave Myette says paying the rent money without being able to get going on construction “speaks volumes on the commitment of the proponent on the project.”
Myette says when people are parking on the CCV site this summer for nothing, they should take note, “They’re parking on rented land, paid for by the proponents of CCV.”
Revenue collected from the rent of land will be directed to the Waterfront Enhancement Reserve.
The CCV development includes a restaurant, special events hall, retail and recreation space to be located at the harbour of the Port Elgin Main Beach.
The cost could be in the tens of millions of dollars.
