Council Accepts another Letter of Intent

Chestermere City Council accepted another Letter of Intent (LOI) for the Webster Industrial Park at the March 19 council meeting.
This is the tenth parcel of land in the city’s new industrial park that council have accepted an LOI for.
The hope for Webster Park is that it will help with taxes in Chestermere and make things better there.
“We are hoping once we get this up and running it will get us back into the 80:20 ration on taxes, and help us stabilize the tax base in our city so it’s not totally resident,” said Deputy Mayor Mel Foat.
While the LOIs are a positive sign for the development of Webster Industrial Park, Foat said people need to realize that just because the LOI was accepted that doesn’t mean it’s legally binding.
Foat said the letter of intent shows a company’s interest in the park. The LOIs are a good way to gauge how many people are interested in Webster Park.
The city’s goal is to get Webster Industrial Park filled with as many lots spoken for as possible.
Determining the amount of potential investment and how much interest people have in the park will determine if it’s feasible to develop it, or if the city needs to partner with another developer to develop it.
The next stage for Webster Industrial Park is to go and determine the total cost of developing the park itself, and how much of an economic benefit it will be for Chestermere.
The project is currently on schedule and they are hoping to get the numbers in by fall, or sooner if possible.
For information on Webster Industrial Park go to www.chestermere.ca/603/Webster-Light-Industrial-Business-Park.