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n what Brenda Halloran called one of her Imosl memorable nights as mayor, Waterâ€" loo city council donated Monday more than three acres of prime uptown real estate to a new postgraduate international studies centre. The land, located on the old Seagrams distillery lot at the southwest corner of Erb Street West and Father David Bauer Drive, will house the Balsillie School of Internaâ€" tional Affairs, a think tank which will offer masters and doctorate programs in internaâ€" tional public policy in association with the city‘s two universities and the Centre for International Governance Innovation (CIG1). "We‘re on the cusp of something great hére in Waterloo," Halloran said. "This school will bring prosperity, continued pride, a place to visit and hundreds of thouâ€" sands of people to our city." Council voted 7â€"1 to approve the deal to enter into a lease with the University of Waterloo, Wilfrid Laurier University and CIGI to use the land, which is valued at almost $5 million. The school was founded on a $50â€"million donation from Research in Motion CEO Jim Balsillie and has also received funding from the universities and the province. the universities and the province. "The key question (in this debate) is what "The core of our vision is the stated belief _ is the best use of the most prized real estate that (international governance and policy) _ in our city‘s care," he told council. are the issues of our time," Balsillie said, The city should have sought more public City approves deal for Balsillie school despite lone councillor‘s concerns _ in the Waterloo Chronicle! t hear there‘s a great DEAL By Grec MacDonaLp For the Chronicle STARTING ©$200,000‘s VILLAGE 1 & 2 BEDROOM LIFE LEASE SUITES CALL TODAY TO VIEW OUR MODEL SUITE Choose excellence, choose Luther Village adding that the right set of circumstances will allow Waterloo to not only become a leader in international studies, but to ensure future investment in the area. "It‘s a win for the city in terms of prosperâ€" ity," said Court. Mark Whaley. "Waterloo has always been on the cutting edge of the knowledge industry and this is a way for susâ€" tainable growth in that industry." But not everyone was pleased with the decision. Coun. Ian McLean, who said he was conâ€" cerned about the speed at which the deciâ€" sion was reached, was the only member of council to vote against the deal. "We‘re on the cusp of something great here in Waterloo. This school will bring prosperity, continued pride, a place to visit and hundreds of thousands of people to our city." â€" Brenda Halloran Mayor of Waterloo LUTHER oN THE PARK consultation and prepared a financial analy sis before handing over the land, he added. McLean said he views the school coming to the city as a great opportunity. But he would have liked to have seen other innovative ideas for how to use the land. The usual way to develop land is through a request for proposal process, he said. If the school was built elsewhere â€" like on empty university property â€" the Seaâ€" grams lot could be used to generate income. "The council‘s major tool to build infraâ€" structure is ... property taxes," he said, and this lot could have generated more than $150 million in taxes over the term of the lease. "This school will have broad and proâ€" found impacts, some positive, but some not so positive, especially to the treasury," McLean said. WATERLOO CHRONICLE + Wednesday, August 29, 2007 * 5 Deliver roYOU » Paychic Readers / Torot Readers . / Puim Readers » Angal Readings / Post Uves . ~ Mediumaship » Aura Photos & Free Lectures . » Vendors & More! velivered RIGHT B For Details: wwrw.eâ€"Psychic Victoria St. North & Lackner Bivd , Kitchener syvchic E: 4â€"10 â€" Sat/Sun: 11â€" 10 â€" Mon 11â€"7 d Delivered to T 32,000 homes each week WATERLOO CHRONICLE What does the Future Hold? Find out this Weekend! _ Valld AH