Company to break ground on expansion in Spring 2019 or sooner
IROQUOIS – A crowd of 25 people, mostly curious onlookers, municipal council and staff, gathered at the former Iroquois Public Works building June 8th at 25 Dundas Street to witness the first municipal property auction held since amalgamation.
Two bidders vied for the property: Jeff Poapst – senior vice-president, manufacturing and service for Ross Video; and Patrick O’Shaughnessy – owner of Clear Capital & Outrepreneurs from Ottawa.
Poapst’s bid of $180,000 won the day, with the property being added to the company’s planned expansion in Iroquois.
The auction was conducted by Hunter McCaig from Rideau Auctions Inc., with Wayne Hutt assisting.
McCaig started the auction at $250,000 before dropping down to $150,000.
The bids started at that point, increasing up to the final price of $180,000. Ross Video will pay a five per cent buyer premium when the property closes. The property transaction has a closing date of July 28th.
“I’m very pleased with the outcome,” said South Dundas mayor Evonne Delegarde. “It’s been on our radar for a while. Kudos to Ross Video for committing to buy it and being supportive of the community.”
“It aligns with what we planned,” said Poapst. “It helps with our growth plans long term.”
He explained that the company is formalizing plans for expanding their Iroquois location, breaking ground in Spring 2019.
“There are a number of easements that will need to be moved, that will take the better part of a year.”
Poapst added that the expansion could start earlier, depending on financial forecasts.
The company has Prescott-based contractor D.C. Snelling selected to build the expansion, with engineering plans being developed by Eastern Engineering.
“This way we can be ready to go,” he said. “We believe in using as much local contractors as possible.”
This is the second expansion for Ross Video in less than a decade. The company tripled their Iroquois location size in 2011.
This was the first time the municipality has auctioned a piece of property for disposal.
“The process was very good, very transparent,” said Poapst when asked about the land auction process.
Delegarde said she sees more properties being sold this way.
“It’s a good way to do it, and there was interest in the community,” she said, noting that the former Williamsburg Township Hall will be the next to be sold.
“We’ve already directed staff to prepare for it for the fall.”
The former municipal hall and library is leased by the Upper Canada District School Board’s T.R. Leger Alternative school until October. The board is relocating the campus to North Dundas District High School.
Funds from the sale of the property will be placed in the “sale of asset reserve fund” according to Shannon Geraghty – chief administrative officer and treasurer for the municipality.
“Those funds are drawn by council request and are to be reinvested into municipal property.”