Changes to Act to Enable Development Project in Sydney
March 8, 2018 9:43 AM
Changes to the Municipal Government Act will help spur business development in the Port of Sydney.
Cape Breton Regional Municipality (CBRM) is seeking amendments to the Municipal Government Act to allow the municipality to sell and lease property for less than market value and provide tax concessions to Sydney Harbour Investment Partners Incorporated, a commercial entity.
“The economic growth needed in Nova Scotia will come from a willingness to reach out and capitalize on opportunities,” said Derek Mombourquette, Minister of Municipal Affairs. “These amendments will enable CBRM to continue to pursue the growth potential of the Port of Sydney and contribute to the economic growth of Cape Breton.”
In 2015, the municipality granted the Sydney Harbour Investment Partners Inc. exclusive development rights for a container terminal and logistics park in the Port of Sydney. In 2017, they negotiated an agreement to further develop the port. Amendments to the act will allow this agreement to proceed.
FOR BROADCAST USE:
Amendments to the Municipal Government Act will
let Cape Breton Regional Municipality and Sydney
Harbour Investment Partners Incorporated move forward
with business development initiatives involving the Port of
Amendments would allow the municipality to sell and
lease property for less than market value to a commercial
entity and would let the municipality to provide tax
concessions to a commercial entity.
Municipal Affairs Minister Derek Mombourquette says
the amendments will enable Cape Breton Regional
Municipality to continue to pursue the growth potential of
the Port of Sydney and contribute to the economic growth of
Media Contact: Krista Higdon