It’s being referenced as a historic settlement.
An $80 million compensation package to the Municipality of Central Elgin for the hundreds of acres of land absorbed by St. Thomas for its new industrial park that is to be the home of the PowerCo EV battery plant.
The land was obtained by the city under provisions in Bill 63, St. Thomas – Central Elgin Boundary Adjustment Act, 2023.
The $80 million is made up of $15 million in monetary compensation and access to 7,700 cubic metres per day of wastewater treatment capacity at flow rates equal to City of St. Thomas rates.
This is projected to have a value of $75 to $85 million.
The question to ask is how will this impact water rates for Central Elgin residents?
Ian's City Scope 