Terasen Purchase of ACS Building Closes Today

Monday, June 28, 2010 02:35 PM

Prince George, B,C. – Today is the day Initiatives Prince George will see the deal close on the sale of the former ACS building on 2^nd Avenue , to Terasen Gas.

“The sale price was $2.35 million” says IPG President Tim McEwan “There was about $1.1 million left on the loan to buy that building in the first place, so once that is paid off, there should be some proceeds left.”

McEwan says some of the proceeds will be used to pay off the CN building loan ( in the neighbourhood of $500 -$600 thousand dollar range)which is the home for IPG.

There will be discussion with the Board of Directors about what should be done with the balance of the proceeds but McEwan says some of the funds may go towards capital upgrades on the CN building.

Terasen purchased the former ACS building to be the home of its new customer support centre.

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Posted on Monday, June 28, 2010 02:35 PM in News by 250 News

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Comments

Posted by: DPJ on June 28 2010 4:10 PM

Awesome. When can I apply for a job?

Posted by: Palopu on June 28 2010 5:33 PM

There are a number of things wrong with this picture. First and foremost IPG doesnt have any money. It gets $2.5 Million budget from the City each year to operate. So this bulding was bought with taxpayers money, and if there is anything left over it should go back to the City and the taxpayers of Prince George.

In addition the City paid probably something in the area of $400,000.00 to wire this building to make it attractive as a call centre. This again is a good reason for the surplus money to go back to the City.

And last but not least. IPG and the Tourist people are making noises about moving. IPG would like to move into the new Wood Innovation Building, so why would you spend money a capital upgrades to the building if you plan on moving out.

Would anyone else be dumb enough to buy this building. Or is there a scheme in the works to have CN buy it back. What about the contaminated soil problem that they experienced with this building. Has it been resolved. If not how in hell do they plan on selling the building.

Lot of questions, very few answers. Vintage Pr George.

Posted by: Junco on June 28 2010 6:21 PM

You have raised some good questions Palopu.

Posted by: Eagleone on June 28 2010 7:09 PM

Exactly. Its not IPG's money to spend. Its the cities money, and I as a home owner don't want to have to subsidize more so that IPG gets a windfall slush fund.

Why we even have IPG as a corporate welfare agency is beyond me... it should be shut down and the budget should go into real tangible things that improve PG infrastructure and lowering our tax rates so that we become more competitive in the real sense and not just in the PR sense.

Posted by: supertech on June 28 2010 9:19 PM

Very good ideas from all but we need a new council to get anything progressive done. It seems to me that during elections, all the candidates have good ideas which somehow do an about face 6 months into their mandate. That money will no doubt be squandered on patronage management positions somewhere.

Posted by: He spoke on June 29 2010 9:57 AM

supertech, I am actually Ok with what the council has been doing, it is a forward thinking council.

As far as Dan Rogers goes, I never was much of fan of Dan, so he is not impressing me.

Posted by: Retired on June 29 2010 10:34 AM

Very good ideas from all but we need a new council to get anything progressive done.

That�s the wrong move. Its not council that comes up with these hair brained schemes it would be the mandarins at City hall that are lobbied by IPG .

Unless we clean house at City hall we can replace our councils as often as we like but the poor management will always be there to eat up our tax dollars.
Cheers