Open House & Special Council Meeting - Muskoka Regional Centre Redevelopment February 28

Posted on Wednesday March 01, 2017
Memorandum of Understanding_sm
Alan Perlis, Knighstone Capital, Mayor Paisley Donaldson, Howard Balloch, Maple Leaf Schools

On February 28, 2017 an Open House was held at the Gravenhurst Opera House by Joint Venture partners in the Muskoka Regional Centre redevelopment project. It was an opportunity for the public to learn more about the proponents (Maple Leaf Schools and Knightstone Capital Management) and their plans to redevelop the site into an Educational Institute for Chinese students hoping to study in Canada and Gravenhurst specifically, (the home of Norman Bethune).  Presentations were given by Howard Balloch, Vice Chair of the Maple Leaf Educational Systems and Alan Perlis, Chief Operating Officer with Knightstone Capital Management Inc. Glen Davies, Chief Administrative Officer with the Town also offered insight and provided further detail.

Following the lunch hour presentation a Special Council meeting occurred at 2:00 pm where Mayor Donaldson and Councillors heard again from the proponents and voted to enter into a Memorandum of Understanding. Many great questions and comments were put forth today! Thank you all who could attend. Stay tuned for more information and opportunities for engagement as talks continue with the Province (Infrastructure Ontario).

The Memorandum of Understanding provides a non-legally binding framework that describes what the Town and Joint Venture intend to do in terms of buying the property, transferring it to the Joint Venture and what the development will look like in general terms.  It commits the Joint Venture to providing a more detailed “masterplan” to give the Town a better idea of what that development will look like (more detail about the condo’s for example); that we will agree on the price to be paid to the Province and that those costs plus the demolition/remediation costs will be the responsibility of the Joint Venture, not the Town; and, it confirms that the Town still has a role in formal approvals under the Planning Act.