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Alberta Town Offering Downtown Lots For A Loonie
April 25, 2013
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Mayor Mike Saric says his town Mundare, Alberta is offering lots for $1

Several months ago, we did a post about the town of Reston, Manitoba that was selling property for just $10 to try attract businesses and families to the community.

Well, not to be outdone - a town in Alberta is doing the same thing, only at an even cheaper price.

Mundare, Alberta is selling downtown lots for... get this... one dollar. That's right, a loonie.

"This is absolutely legit," said Mundare mayor Mike Saric.

"We'll be happy to give anyone the lot for free - well, actually a dollar - if they're willing to come to our community and set up their business."

Not only that, but anyone who buys in will get tax breaks, including no property tax during construction and lower rates for the first three years they're in business.

There are a few conditions. If you buy a lot, you have to start building your business within a year. It has to be finished within two years of signing the deal and the business has to meet the town's needs.

The town also requires a $1000 deposit, in case the timelines aren't met.

Among other things, the mayor said the town hopes to bring a doctor's office, a lawyer's office and an accountant's office to the downtown.

"We're hoping that we will be able to attract more families by providing the types of services and the type of community that young families want to be in," Saric said.

The town's wooden grain elevator was demolished recently, so it needs to adjust to changing times.

"Essentially, the land has been sitting vacant for some time. Vacant land does nothing for the community and nothing for our tax base. We would sooner give the land away and see something developed on the land than have it just sit empty."

7 of the 12 available lots have already been sold and Saric is hoping the other ones go fast. "I think we have a very bright future ahead of us," he said.

His only concern is that this idea "becomes too popular in every small town, and we start to give away our competitive advantage."

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