Stratford’s Chief Administrative Officer says the city is pleased with a recent decision on the market value of the Cooper Site.
An Ontario Land Tribunal ruled that the site of the former Grand Trunk Railway repair shop was worth $290,000 when it was expropriated from former owner Lawrence Ryan in 2009.
The tribunal also ruled the city owed just over $51,000 in wasted development costs to the Ryan’s for their plans to redevelop the site, far less than the $1.05 million the Ryan’s had been seeking.
Lawrence Ryan died in December 2019.
Now that the decisions have been made, Joan Thompson says the city is looking forward to moving ahead with the development of the site.
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