Collectively, these leases generate just under $5,000 annually.
Corner Brook is now charging businesses who lease city properties a rate of $1 a year. The move is to stay current with current residential leases. Currently, there are eight active commercial leases, the majority of which are located along Confederation Drive and are used primarily by car dealerships for parking.
At Monday’s public meeting, Councillor Bill Griffin says this will help businesses, a move which will cost the city $5K. Collectively, these leases generate just under $5,000 annually. Given the limited financial benefit and the fact that the land use is generally low impact, standardizing these leases at $1.00/year would streamline operations and ease some of the financial burden for some local businesses.
Councillor Pam Gill says this is a good start to helping businesses by helping them save money.
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