Invest Medicine Hat, the NWIA Plan and the Clubs Pt 1
Background. Invest Medicine Hat (IMH) wants to develop the Northwest Industrial Area. Five clubs lease some of that land from the City, some have been there for 30 years. They were all pretty much told to move there at the City's request. Now IMH says they will need to relocate in 10-15 years but has no place for them to go. Their leases have a clause where they can be kicked out with 90 days notice, lease or no lease.
This is from a series of Facebook posts starting April 1 2022.
"The NWIA Plan and the Clubs Pt 1
I was elated March 7 when Council tabled the NWIA plan for 2 weeks. I thought, they REALLY heard the clubs, they will fix this!
New Council, new ideas!
Instead Council came back with a motion to give the clubs an opportunity to sign 20 year leases instead of the proposed 5 years. Also, Administration would be directed to negotiate with the clubs in the meantime.
They had two weeks and this is the best they could come up with?
I can hear you say
“The clubs got 20 year leases, what’s the problem? They should be happy!”
Here’s the problem.
The City has an escape clause. The City can renegotiate the lease at any time to come to a “mutually agreeable path forward”.
This is a big FU to the clubs.
Here’s what is sounds like to me.
“Sure, we’ll LET you sign a 20 year lease but it’s meaningless and you might as well wipe your ass with it because we can do whatever we want.”
It’s like when you sign a lease to rent a house. Your landlord can force your eviction if they plan to move family in or move in themselves.
At least one club has offered to buy the land they are on, the City has refused them.
Every Single Time
Did You Know
The Stampede sits on PRIME residential land, the market rate for a lease is $500,000/yr. Current council renewed their lease for 25 years with an option to renew for another 25; they got a 50 year lease.
So how much do THEY pay each year?
$1 That’s right One loonie
Between 2021-2071, the City will earn $50 on prime residential land instead of the $25,000,000 that would be fair market value today, it would be bound to increase over the next 50 years.
The Stampede brings in lots of tourists and lots of money, of course we want it to STAY in business.
The clubs also bring in lots of tourists with lots of money but they actually PAY their rent. City Council can still fix this. I’ll post my ideas in an upcoming post.
#linnsieclark #robertdumanowski #cassihider #darrenhirsch #allisonknodel #andymcgrogan #ramonarobins #shilasharps #alisonvandyke #kasosumh #NWIA #yxhclubs #MHDRA #MHRRC #MHMS #MedHatRCers #MHSpeedway #MHES #MedHatStampede #IMH #Stantec