Changes to the Municipal Government Act will help spur business development in the Port of Sydney.
Cape Breton Regional Municipality (CBRM) is seeking amendments to the Municipal Government Act to allow the municipality to sell and lease property for less than market value and provide tax concessions to Sydney Harbour Investment Partners Incorporated, a commercial entity.
“The economic growth needed in Nova Scotia will come from a willingness to reach out and capitalize on opportunities,” said Derek Mombourquette, Minister of Municipal Affairs. “These amendments will enable CBRM to continue to pursue the growth potential of the Port of Sydney and contribute to the economic growth of Cape Breton.”
In 2015, the municipality granted the Sydney Harbour Investment Partners Inc. exclusive development rights for a container terminal and logistics park in the Port of Sydney. In 2017, they negotiated an agreement to further develop the port. Amendments to the act will allow this agreement to proceed.
Source: Release