After years of missed deadlines and a failure to meet contractual obligations, the City of Terrace and Kitselas First Nation have had enough.
Today, the parties agreed to re-purchase the nearly 1,200 acres of land that make up the Skeena Industrial Development Park.
Back in 2005, the City and the Nation entered in to an agreement to purchase the land from the province for support industrial growth and development.
In 2014, the property was sold to Taisheng International Investment Services to construct and develop an industrial park.
Taisheng then missed deadlines in 2016 and 2017 for building and development permits, and foundation laying.
Despite this, the City extended the deadline for the work, and took on many efforts to assist Taisheng over the years.
Now, both the City and Nation have agreed to exercise a re-purchasing option built in to the intial contract.
According to the City, Taisheng has since failed to meet contractual obligations for conveyance of the lands, but the City says they are taking steps to ensure they are met.
Both Terrace and Kitselas will now look to ensure a diverse development of the land which will strengthen their position as a hub in the Northwest.
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