2009-05-05
16:45:11
The city manager is optimistic the sale of the former Lantic Sugar Site along Water Street to Irving Oil will be finalized this summer. Terry Totton says they are down to the final clause of the purchase and sale agreement, and are still dealing with the federal government regarding the title of the land.
Totton says Irving Oil has plans to begin test drilling on the site this summer in order to determine the environmental degradation of the site. He also says there is every indication that Irving's proposed Headquarters project for Long Wharf will meet final approval, sealing the deal for the land sale. Under the agreement, the company will then trade the former Lantic Sugar site with the Saint John Port Authority for the Long Wharf site.
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