Sarnia Research Park Seeking Five-Year Pause on Loan Payments

Sarnia research park seeking five-year pause on loan payments

The mayor of Lambton Shores delivered a harsh assessment Wednesday at Lambton County council of a request for a five-year pause on loan payments by the Western Sarnia-Lambton Research Park.

Lambton County Council gauging research park value

The future of the Western Sarnia-Lambton Research Park (WSLRP) is being called into question.Lambton County Council received an update on the success and current challenges being faced by the park and the County of Lambton Community Development Corporation (CLCDC), which owns the building, during its regular meeting Wednesday morning.Former Executive Director Tom Strifler said the park currently has an occupancy rate of around 70 per cent, up ov…

‘You’re bankrupt’ says Lambton Shores mayor as Research Park looks for a debt holiday | The IndependentAccessibility ToolsIncrease TextDecrease TextGrayscaleHigh ContrastNegative ContrastLight BackgroundLinks UnderlineReadable FontReset

Heather Wright/The Independent Lambton Shores Mayor Doug Cook was blunt. Cook, a former banker was one of the Lambton County councillors asking tough questions about the Sarnia-Lambton Research Park’s request to defer the organizations $15 million in loans for five years. “You’re bankrupt; you’re insolvent; you can’t carry your debt load, but now were askingcouncil and our taxpayers to consider…