Municipal Act, 2001
SALE OF LAND BY PUBLIC TENDER
THE CORPORATION OF THE TOWNSHIP OF TERRACE BAY

Take Notice that tenders are invited for the purchase of the lands described below and will be received until 3:00 p.m. local time on June 7, 2023, at the Terrace Bay Municipal Office, 1 Selkirk Avenue, Terrace Bay Ontario.

The tenders will then be opened in public on the same day as soon as possible after 3:00 p.m. at the Terrace Bay Municipal Office, 1 Selkirk Avenue, Terrace Bay.

Description of Lands:
1. Roll No. 58 54 000 002 00710 0000; 33-35 Simcoe Plaza, Terrace Bay; PIN’s 62457-0308 (LT), 62457-0309 (LT) and 62457-0310 (LT); FIRSTLY: PCL 18609 SEC TBF; LT 11 PL M124 STREY; TERRACE BAY; SECONDLY: PCL 20169 SEC TBF; PT LT 12 PL M124 STREY PT 1 55R4716; TERRACE BAY; THIRDLY: PCL 20042 SEC TBF; LT 10 PL M124 STREY; TERRACE BAY; File No. 19-02
According to the last returned assessment roll, the assessed value of the land is $186,000
Minimum tender amount: $181,656.12

2. Roll No. 58 54 000 001 21301 0000; 32-34 BIRCH CRES., TERRACE BAY; PIN 62457-0146 (LT); PCL 8-1 SEC M291; LT 8 PL M291 STREY; TOWNSHIP OF TERRACE BAY; File No. 21-01
According to the last returned assessment roll, the assessed value of the land is $43,000
Minimum tender amount: $29,455.76

Except as follows, the municipality makes no representation regarding the title, crown interests or any other matters relating to the lands to be sold. Responsibility for ascertaining these matters rests with the potential purchasers. The assessed value according to the last returned assessment roll may or may not be representative of the current market value of the property.

Pursuant to the Prohibition on the Purchase of Residential Property by Non-Canadians Act, S.C. 2022, c. 10, s. 235 (the “Act”), effective January 1, 2023, it is prohibited for a non-Canadian to purchase, directly or indirectly, any residential property, as those terms are defined in the legislation. Contraventions of the Act
are punishable by a fine, and offending purchasers may be ordered to sell the residential property.

The municipality assumes no responsibility whatsoever for ensuring bidders/tenderers comply with the Act, and makes no representations regarding same. Prospective bidders/tenderers are solely responsible for ensuring compliance with the Act and are advised to seek legal advice before participating in this sale.

Transfers of properties that contain at least one and not more than six single family residences and are transferred to non-residents of Canada or foreign entities, are subject to the Province’s Non-Resident Speculation Tax (NRST).

This sale is governed by the Municipal Act, 2001 and the Municipal Tax Sales Rules made under that Act. The successful purchaser will be required to pay the amount tendered plus accumulated taxes and any taxes that may be applicable, such as a land transfer tax and HST.

The municipality has no obligation to provide vacant possession to the successful purchaser.

A copy of the prescribed form of tender is available on the website of the Government of Ontario Central Forms Repository under the listing for the Ministry of Municipal Affairs.

For further information regarding this sale and a copy of the prescribed form of tender, visit:
www.OntarioTaxSales.ca