The Mackenzie Place high-rise apartment building, which has been closed to the public since a fire in March of 2019, did not go up for auction as expected on June 10.
The day before the Town of Hay RiverSA国际影视传媒檚 tax auction the building was removed from the list of properties up for bids.
The auction involved buildings with delinquent property tax accounts with the town.
SA国际影视传媒淢ultiple registrations against the property have been identified of which the townSA国际影视传媒檚 legal representative will need to provide appropriate notice of the intent to auction,SA国际影视传媒� stated a June 9 notice from the town. SA国际影视传媒淎n auction for the property will be scheduled at a future date to be determined.SA国际影视传媒�
In comments to The Hub, Glenn Smith, the townSA国际影视传媒檚 senior administrative officer, explained that legal counsel advised the town some registrants were not contacted and needed to be contacted ahead of proceeding with the auction.
SA国际影视传媒淯nless something changes with the situation with the owner of that property, we will be looking to do another auction as soon as we can,SA国际影视传媒� he said.
Smith said the territorial Property and Taxation Act outlines very specifically what the communication with registrants must look like.
SA国际影视传媒淪o our lawyer recognized the gap there and that needs to be addressed,SA国际影视传媒� he said.
The town hopes that an auction for Mackenzie Place would occur before the fall, he added. SA国际影视传媒淏ut those timelines need to be still determined through consultation with our lawyer.SA国际影视传媒�
Smith said he really doesnSA国际影视传媒檛 know if there is any interest in buying the building.
Its minimum price for the tax auction is $1,455,350, which is 50 per cent of its assessed value.
In such a situation, an owner could pay the delinquent property taxes up to 30 days after the auction, if there is a bid to buy a property, and would retain ownership.
Harry Satdeo, the owner of Mackenzie Place, said there are potential buyers.
In fact, he said he has been contacted by about five organizations to talk about the building, although he declined to identify them.
Satdeo has previously said he is hoping that some group would buy the building to help provide accommodations in Hay River, and he still hopes that might happen.
So he was disappointed that the June 10 tax auction didnSA国际影视传媒檛 involve his building.
SA国际影视传媒淚 wasnSA国际影视传媒檛 pleased that it was cancelled, thatSA国际影视传媒檚 for sure,SA国际影视传媒� he said. SA国际影视传媒淏ut itSA国际影视传媒檚 OK.SA国际影视传媒�
Satdeo does not find it acceptable that an auction for the high-rise might not happen until the fall.
SA国际影视传媒淚 would like it to happen sooner so that whoever takes it over would provide some accommodation come winter,SA国际影视传媒� he said, noting time would be required to continue repairs on the structure.
The total delinquent property taxes owed on Mackenzie Place is $162,969.
Tax arrears become delinquent after two years and earn a property its place in the auction.
About another $150,000 in property taxes for 2020 is owed on Mackenzie Place, but that total is not yet considered delinquent.
Following the fire in 2019, an estimated 125 people were displaced from the 16-storey building.
The tax auction on June 10 did proceed with six properties up for bids.
Bids were received on three of the properties.
