DIDSBURY - The Town of Didsbury's purchase of the AG Foods building has become official following a successful building inspection and environment assessment, according to a town press release issued Monday.
Council approved a deposit of $110,000 towards the eventual purchase of the AG Foods building at an earlier council meeting. The total purchase cost is $1.1 million and was necessary to facilitate the sale of Lot 9 in the Shantz Crossing development to Buy-Low Foods, the release states.
The building is located at 2405 - 20th Street in Didsbury.
"Council sees the purchase as a strategic investment for the Town of Didsbury that brings numerous benefits for the community," the release states. "This purchase will allow the construction of the new Buy Low Foods grocery store and the expanded shopping space, services, selection and employment opportunities it will bring to move forward."
The town also expects to realize substantially increased commercial tax revenues of approximately $55,000 annualy based on the estimated assessed value of the land and building once the project is completed, the release states.
Mayor Rhonda Hunter said that the purchase of the existing AG Foods building brings an opportunity to be creative in how it is repurposed in the future, whether it is sold to another commercial business or used to expand town services.
"Council is excited to be able to share with our citizens the announcement of the agreement to purchase this asset for our community," said Hunter. "A purchase that realizes the beginning of the long-awaited startup of development in Shantz Crossing."
Hunter said that the investment will have great benefit to the community in supporting and furthering development in Didsbury.
"The building and property has much potential - watch for opportunities for Didsbury residents to get involved," she said.
