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~ | in - w.“ no or ) t:itno~i(:i.i. - WeilnesdayiAprilU10” Manulife keepm' g quiet on future plans for Weber Street North property Continued [mm page] first quarter of this year, The company has demolish it." said Cameron Rapp. \sr ‘ paid more than $6 million in property taxes Rapp said as part of the city’s new official I“ l'he building has been vacant ever since. since it first bought the property. plan, approved in 2012, the city did consult - None ol‘the 700 employees were laid off as The city's tax department said it wouldn't with Manulife on the property at 1580 Weber ~ ‘ part of the move, and as oi Dec. Ill, 2013 know how the demolition of the building St. N. and at the time the company indicated ‘ Maniilife employed 8,746 people in Canada. might impact the tax levy on the land until it wanted to hold onto it. ’lbe city made sevi . An otwrtitions review last year impacted less the property cart be reâ€"asscssed by the era] special provisions in the official plan to than one per cent of the global workforce, Municipal Property Assessment Corporation, accommodate the company's longrterm and Manulifi- said that reorganization and and that could take several years. vision for the land, Rapp said. 5‘, ' ' J 7‘: < a this demolition were not related. The commissioner of integrated planning “'lhey still would like to see employment ‘ ‘,. 4 ~ . ‘ "~ ‘ 1’1“»; “4e Documents attained by the Chronicle and public works said the city hasn't been uses there with some secondary commercial » ' ‘g ,m. a , ’ limit the (Iity ot Waterloo last Thursday indi- made aware of what Manulife wants to do there and then as a final phase perhaps some 4 ’ ‘ X ‘ rate the company has paid more than with the pmpeny, but demolition does make residential backing on towards Forwell 5 $450,000 in property taxes since vacating the sense at this stage. Creek," said Rapp. . - i. building in 2012. That includes the city, “They're looking atan empty building that He also said the city isn't worried about Manulife is demolishing its vacant Weber region and education portion ofthe bill. isn’t fitting their needs (and) is a liability to any lost property tax revenue that may result Street North office. Mwsmorsou unit") In 2013 Manulife paid $372,321.24 in taxes some extent sitting there. so if it's not in their from the demolition, and that this doesn't on the land and another 593,000 through the grand plan to keep it that makes sense to seem to be a trend in the city prospectus for developers." Freeman said. Over the past year. BlackBerry has opted "They're bringing it to a place where a , to sell several ofits buildings in Waterloo and potential developer doesn't say 'well, I've got lease the space back as part of its ongoing demolition costs (and) remediation costs costAcutting measures. Maclean would iioi say what future plans . (Ioun. Diane Freeman thinks Maniilile the company has for the site. only that Man .A can“. may be prepping the land for sale by demo] ulil‘e will, “work closely with all appropriate ' - ’â€" ,. ~ ' -- M s,” ishing the building to make it more iiiai government and regulatory bodies to ensure I“ M m ketableto potential buyers. all applicable rules and tonditions around . “’ “My gut instinct whenever I see proactive redevelopment of the property are follow-d demolition like that (is) they're, building a andtidliered to." 4 /L T t I” lth J733n'dgoSLWobrloo 4,). , O 8 ea .. 519-747-0320 x" J >1 ‘t- 7:? V ”in: ”A” ’ www.mplmrmo(y.<om - lvi-tlo.v.~.1it.nti\. 1- [j g, ‘ . râ€" ‘ “ Friendly Proleuionnl l m... y y I _ ‘ l R». EMT WULJR PASSC ”1C?“ pf) where-vourrumlliralti; & \1“lll[|ll‘\1]»4‘\‘l iL ‘ i . t (7., ll: \ T inaugural! ‘ > - tompunni Ill! 6... l l‘\ E. -. a; L. 5 t S ”a, ”NW... 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