Paradise close to capping 2018 school land sale

By Mark Squibb

The Town of Paradise and the Province are in the final stages of approving a land transaction that has been on the books since 2018.

The land in question is a 2.5-acre lot off Dianne Whalen Drive that was selected as the site of Paradise Intermediate School in 2018.

At the time, the Province agreed to pay the Town the appraised value of the lot, $74,700, or $30,000 per acre.

Councillor Larry Vaters, when bringing the matter forward during the committee meeting of January 14, noted that through a title search, staff learned the Town had a mortgage on the land through Newfoundland and Labrador Housing Corporation. That mortgage, from 1998, states that mortgage release conditions, valued at $26,250, must be met prior to any land transaction.

All told, the Town will net $48,450 in revenue from the sale of the land — the appraised value of the property minus the mortgage release conditions.

“In order to complete the transaction, the Province needed to complete a friendly expropriation,” said Vaters. “The Towns’ legal (advisors) and the Province have worked together to finalize the transaction under the necessary steps of the expropriate process. The Province will be paying the appraised value of $74,700.”

Councillor Glen Carew said he was glad to see things wrapping up given how much time and effort the file has demanded.

Council officially approved the expropriation during the January 21 public meeting.

Meanwhile, the Town is continuing to work with the Province to secure a site for the newly promised high school. Mayor Dan Bobbett had previously indicated the Town had submitted a number of potential sites to the provincial government, all within range of the intermediate school. The provincial government will have the final say in site selection.