Offer to save the Eastgate: Too little, too early?

The good news is that there's an offer to buy the old Eastgate Hotel.

The bad news is that the offer expires Friday, July 30.

The next City Council meeting is August 23.

Only City Council can decide to accept, reject or counter that offer, says Joe Fratesi, the City's chief administrative officer.

"Besides," said Fratesi. "The offer is about the same as one already rejected by council several months ago."

In order for an offer on the table from a former Sault resident now living in Toronto to be considered, it would have to be re-written.

It was received by the City's legal department on Friday, July 23.

Another problem with the offer is that it asks City councillors to do something they don't have the authority to do, said Fratesi.

"It asks for tax relief for this year and next year," he said. "That is both illegal and, even if council could do it, that would set a very dangerous precedent."

The matter will be before City Council at its next meeting in August.

Ward 4 City Councillor Lorena Tridico says the prospective buyers are a husband-and-wife team, originally from the Sault, who moved to Toronto some years ago.

The couple has children in the bar/ restaurant sector and wishes to move back to the Sault to take up the Eastgate as a retirement project.

The pair wants to renovate the second and third floors of the building into one-bedroom apartments, with a restaurant to be located on the ground floor.

Local tradespeople would be used on the project

Tridico said that other offers may also be submitted.

She's hoping a special meeting of City Council will be called to approve the sale.