The town has ceased negotiations on 46 Griffin Industrial Point.

In February, town council agreed to pursue the property and set a $6.3 million price tag for the 8.05-acre property. Following an Apr. 14 in-camera sessions, they reversed their decision.

Mayor Jeff Genung says the town halted the deal because of the impact of COVID-19.

"We want to have a good look at our financial position prior to committing funds," says Mayor Genung.

At the time, council saw value in having real estate holdings in the area, close to the future Greystone commercial/residential development. They did not reveal any specific plans for the property at that time.

The purchase was to be made through town reserves and would not have an impact on property taxes

The parcel is the current location of Moose Mountain Log Homes Inc

Since the COVID-19 pandemic, the town has been weighing its short-term capital spending.

All town capital projects are on the table right now, including the innovation centre that is scheduled to break ground this year, while the town determines what shovel-ready projects are candidates for funding from the provincial government.

"From what we're hearing from them is they are more apt to participate financially than they were in the past," says Mayor Jeff Genung. "So we can get one of these projects on their books, and get it in, and save our taxpayers some money, that's the goal."

Council will be reviewing a list of shovel-ready projects at its Apr. 27 meeting.