Canadian Tire Deal Approved By City

It was an announcement made over three years ago, during an election campaign, but it now appears the City has finalized their portion of the agreement with Canadian Tire for the purchase of City land presently occupied by the Moose Jaw Exhibition Company.

As part of the Capital Budget discussions it was announced and later voted on when adopting the 2020 Budget that part of the plan to reduce the cost to taxpayers for 2020 capital works included part of the $10 million in proceeds from land sales to Carpere Canada, Canadian Tire and an unspecified numbered company.

The question was raised by Councillor Brian Swanson if the proceeds from land sales to Carpere and Canadian Tire would be transfered to the 2020 Capital Budget.

Finance Director Brian Acker said part of the reasoning to transfer a portion of the land sales proceeds was “rather than tuck them away in a reserve” was to share with residents some of the benefits of expected infrastructure contributions from upper levels of governement. The revised 2020 Budget, adopted later in the meeting, “overall has $10 million coming in from land sales,” Acker told Council.

Proceeds from the Canadian Tire sale will be part of the $7.2 million transferred from the projected $10 million in land sales in 2020 and was adopted as part of the 2020 Budget.

Source - Canadian Tire Moose Jaw Facebook Page

Asked by Councillor Swanson the exact date the City could expect to see the funds from Canadian Tire city manager Jim Puffalt said he could not give a definite answer as he did not have a copy of the agreement with him.

“Monday night we talked about it and it will be within six months of closing (the deal),” Puffalt said.

This past Monday evening Council held in-camera discussions as part of Executive Committee and it is likely they came out of camera and then in a public vote approved the Canadian Tire deal.

During Council’s final 2020 Budget deliberations no exact amount was revealed how much Canadian Tire will pay for the land. Nor was it revealed exactly how much land Canadian Tire will be purchasing. Previously it was announced the Canadian retail giant was looking to purchase 11 acres of property from the City most likely in the southeast corner of the property adjacent Thatcher Drive. The property is presently leased by the Moose Jaw Exhibition Company.

Additionally it is unknown what, if any, incentives were offered to Canadian Tire as part of the deal.

The City previously had a memorandum of understanding for Canadian Tire to purchase the land but had not received a deposit.

It is unknown when Canadian Tire would be starting construction on the retail development.

A news release with the details of the final deal is expected to be released sometime later today.