Friday, February 7th, 2025

Clearview’s reserve fund is about to get fatter.

On Monday, Simcoe County will pay Clearview $2 million for two landfills it took over during amalgamation.

In 1991, Simcoe took over the ownership and operation of two landfills in Nottawasaga and Sunnidale, when they amalgamated into Clearview. The value of the sites was left to be determined in the future.

In 1995, the landfill sites were determined to be worth $10,283,000. Based on that amount, annual payments would take approximately 70 or 80 years to pay out. Recent estimates show the payback period to be 115 years.

A report from the Finance Department said that Clearview would benefit from a quicker payback to avoid an increase in interest rates in the future.

Clearview will receive one installment of $2,010,864 on Monday, June 30. It will keep the money in reserve to be considered in next year’s budget.

Council approved the deal at its May 26 meeting.

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