The finance committee will vote on a $ 2.9 million grant for a Porsche dealership on the road to Montreal – fr

The finance committee will vote on a $ 2.9 million grant for a Porsche dealership on the road to Montreal – fr

OTTAWA – The city’s finance and economic development committee (FEDCO) will vote Tuesday on a proposal to provide a $ 2.9 million grant to a company that wants to build a luxury car dealership at the corner of Montreal Road and Saint-Laurent Boulevard.

According to documents prepared for the FEDCO meeting, staff propose that councilors approve a bid from Mrak Holdings Inc., aka Mark Motors, for a community improvement plan grant, which would be worth no more than $ 2,910,171 in ten. years.

The property at 458 Montreal Road. is currently an Audi dealership, while Mark Motors Porsche is located at 611 Montreal Road. The staff proposal described the proposed new building as “world class,” saying it would cost around $ 17 million to build.

“The new facility will occupy more of the façade along Montreal Road and Saint-Laurent Boulevard with elegant design and materials, and will include a front door feature that will accommodate plantings, benches and product displays.” , indicates the report.

Staff say the funds awarded will be recouped through a massive increase in property taxes at the site. The report shows the current property tax bill for 458 Montreal Road. is $ 25,625, which will climb to about $ 355,620 per year. The city also says the permits and development costs will also bring in $ 1.9 million.

Staff also said the proposed grant would not be paid up front, but would rather be tied to the development of the project and the resulting property tax revenues.

“If the development does not continue, no grant will be paid,” the staff said.

The new dealership will be an “important gateway to Vanier”: the staff

Montreal Road is undergoing a major redevelopment, aiming to create a “dynamic and welcoming main street with a well-balanced transportation network that will allow residents and businesses to prosper,” according to the city. The $ 64 million project includes burying power cables, replacing water and sewer pipes, and redesigning the street.

Staff say the proposed dealership “would represent an important gateway to the Quartier Vanier shopping district and showcase the city’s newly improved streetscape.”

Construction closed Montreal Road to all but one westbound lane until the end of 2022.


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