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Pearle allowed to defer payment on Metcalfe parking lot upgrades by two years

by Mike Robinson

ELORA - As Centre Wellington continues to finalize the municipal land sale/swap with Pearle Hospitality for the Elora Mill project, councillors agreed to a two-year deferral of Pearle’s cost associated with the upgrades to the Melcalfe parking lot.

On July 24, councillors heard an update from CAO Andy Goldie on the land sale.

In November, council gave direction to the CAO to enter into a purchase and sale agreement with Pearle Hospitality.

To clear certain conditions in the agreement pertaining to various township-owned properties, the township solicitor prepared bylaws to: 

- authorize the disposition of the Walser property and the Victoria Street parking lot; and

- permanently close part of public lanes (Ross, Allan and Victoria streets).

Prior to the closing date, council needed to execute the appropriate bylaws to clear conditions relating to the conveyance of municipally owned lands to Pearle.

As part of the agreement, Pearle is responsible for 50% of development costs for a community parking lot adjacent to the LCBO parking lot on Metcalfe Street in Elora.

The agreement now states Pearle may defer that payment for up to 24 months.

Councillor Stephen Kitras asked why the deferral was so long.

The explanation from Pearle was that the deferral would assist with the cash flow of its project.

Goldie added that with the timing of both the Badley and Victoria Street bridge builds, the plan was to have the expanded Metcalfe Street parking area in place before that time - as the existing parking area would be used by equipment.

However, Goldie noted that until construction begins, that parking area would remain open.

Councillor Mary Lloyd, who noted the new lot adds 34 spaces, said one of the trends the community is starting to see is the presence of busses in downtown Elora.

Lloyd agreed this is not something the community had previously considered. She anticipated even more bus traffic as regional tourism is promoted further.

Lloyd asked where bus traffic is being directed - or if there were future plans to create a downtown location to park.

Goldie said typically busses are encouraged to park at the Elora Community Centre where there is more room. He agreed bus operators do not always abide by that.

Goldie suggested this may be something to consider in  the township’s transportation master plan.

Council passed bylaws required for the land sale/swap with Pearle and also agreed to delay up to 24 months Pearle’s payment for 50% of the cost (not to exceed the estimate of $315,503) of the new parking lot.

August 11, 2017

 
 

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