City Council is being asked to take $110,134 from the Property Purchase Reserve Fund and purchase 535 Queen St East as part of the downtown revitalization during Monday evening’s meeting.
The downtown plaza project is an initiative that is anticipated to create new development and help drive increased tax assessment and property valuations, according to a report in the council agenda.
The report also states that the project will provide space for community events/activity in the downtown year round which will not require the closure of Queen Street. Increasing the number of events and activities is a critical component to revitalizing the downtown and for supporting tourism.
A downtown plaza will also contribute to community pride and morale and provide an attractive downtown space for all ages.