Cathy Dobson
Point Edward council is pushing hard for the owners of the former Holmes Foundry property to demolish its derelict buildings and clean up the weeds.
But the owners have no money, says one of the directors of Point Edward Gateway Inc.
That’s the company formed in September 2017 after a prolonged court battle determined its 17 shareholders are the rightful owners of the 16-acre (6.5 hectare) property at Front Street and Highway 402.
“I think we have $21 in the bank,” said Ray Lariviere.
The shareholders were awarded ownership by the courts in a sealed verdict, so details of the ruling can’t be made public, he said.
But Lariviere insists the shareholders were not awarded any money and were left with significant legal bills. Most are local residents and some live in Sudbury, Texas and Port Huron, he said.
“The company is broke. It’s been broke for years. All that legal mumble jumble broke the bank.”
In October, Point Edward council tried a second time to enforce its property standards bylaw. It asked Lambton County to issue an order for the owners to demolish two cement-block buildings that remain from a foundry Chrysler owned until 1988.
A county bylaw enforcement officer went to inspect the buildings in late October and found two people living inside, says village CAO Jim Burns.
“The police were called,” said Burns. “We’ve had it boarded up, fenced, and No Trespassing signs posted, but they don’t keep people out.
The abandoned buildings have exposed insulation, lead paint and falling brickwork.
“It’s a safety problem and an aesthetics problem,” says Mayor Bev Hand. “That property is the gateway to the community and it looks terrible.
“Really, it’s a blight. I get comments all the time about what a dump it is,” she said. “We need to make it look better while the owners try to sell it.”
The owners have appealed Point Edward’s property standards order. A village committee is expected to hear their appeal, possibly this week.
Lariviere told The Journal the shareholders need another six months to comply. Even then, he doesn’t know how they’ll pay the estimated $250,000 demolition and cleanup costs.
He wouldn’t say why the owners are asking for a six-month extension.
“I’ll answer that next month,” he said. “Something is coming down but I cannot say right now.”
Point Edward Gateway Inc. listed the property for sale and received a conditional offer this fall.
“I was optimistic,” Lariviere said. “We want to sell it and move on but (the purchaser) walked away and refused to tell us why.
“Frustration is not the word for how I’m feeling about it. We don’t even have the funds to tear down the buildings.”
The village is prepared to do demolition and cut the weeds if the owners won’t, said Mayor Hand.
“We’re committed to doing the right thing,” she said.
The village has the right to bill the shareholders for the work done.
“And we’d hope to get the money back when they sell it,” said Hand.
Asking price for the 16 acres on Highway 402 and bordered by Exmouth, Christina and Front streets is $7 million.