Talks Continue On Phased-In Tax Increase For The Elm Hurst Inn

Friday, 23 August 2019 at 07:17

A possible phased-in tax increase on a potential expansion project at the Elm Hurst Inn and Spa is on the table, representatives from a London-based company in charge of the renovation presented the motion to council at a recent meeting.

INGERSOLL - Ingersoll council are going to look into discussing a possible phased-in tax increase on a potential expansion project at the Elm Hurst Inn and Spa.

Representatives from a London-based company in charge of the renovation presented the motion to council on August 12th.

Deputy Mayor Fred Freeman says adding on to the Elm Hurst would be great for the community.

"Farhi Holdings is asking for a ten-year tax freeze on any addition that they would do so council basically said at that time, we couldn't make a decision at that time, at that council meeting, but we did invite them to come back and meet with us, meeting with our staff and we can discuss it."

The $10 million project would see 70 suites added to the building.

Freeman says the company's tax experts suggested the property taxes could increase anywhere from $25,000 to $400,000 per year.

He says staff could discuss welcoming the idea of including the project into their Community Improvement Plan.

"We already have something it's called a CIP, a Community Improvement Plan in place which we just passed recently that allows for a five-year phase in of the taxes of an addition that someone would do in the community. And so they could be part of that, but it's not a total tax freeze. And if you spend, I believe it's over $2 million, it could be a ten-year phase in so we could make that work for them as well."

General Manager of the Elm Hurst Inn and Spa, Alon Gurman says the potential expansion could be a great addition to the community.

"We will be able to offer more services that we cannot do today because we still only have 49 rooms, it will offer more things to do for the community around us and people even from the Greater Toronto Area because the spa would be so unique. Today you have to drive two and a half hours to Collingwood to do something like this, but it will be right here."

Freeman says a complete freeze may not be even legally possible because it would cause staff to open the CIP and change it.

He adds the representatives have been invited back to their next meeting.

"Any expansion would be wonderful. We really appreciate the business that the Elm Hurst does out there and then brings to our community. And we would be happy to work with them on a phase-in tax increase."