Mr. Albrecht, Where's Our Grocery Store - A Quick Breakdown
What we, the taxpayers, did for Albrecht:
- Spent $782,994 for the Market & Portage Path corner plot
- Leased the land to him for a bargain price of $10,000 PER YEAR
- Reduced the appraised tax value on the land by almost 80%
- Gave him an option to buy the land for $250,000 at any time within the next 30 years
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Promises Albrecht made in the contract:
- Promptly commence site preparation and construction
- Complete the building of rentable grocery store space within nine months of commencement of the project
- Use its commercially reasonable best efforts to lease to a grocery store operator
- Provide for the creation of 15 full-time equivalent jobs related to that plot of land
For detailed explanations, see the contract page. |
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Promises Albrecht has kept:
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