Many of us drive the former Wicks site every day, and wonder why it just sits there vacant, in what would be prime commercial property.
The City now owns the buildings and property, after it was obtained through tax arrears and it now needs to be evaluated for environmental liabilities.
A market review is ongoing and a report will be brought forward to recommend use or disposal of this property. It is being recommended to decommission and demolish the buildings on the site in order to reduce risk/liability. The total cost for this is $1.1 million of which $800,000 was approved in 2010, and the balance this year. There is also a grant available through the Green Municipal Fund for up to $270, 000 in funding to complete a risk assessment and site remediation action plan.
According to the Capital Budget, the site will then site empty until at least 2016, when $5.3 million is being recommended to do a full depth remediation pending market review recommendations.