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Sale of Land for Tax Arrears by Public Tender municipal act, 2001
sale of land by public tender
ontario regulation 181/03
municipal tax sales rules
The Corporation of the City of Cambridge
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
November 19, 2020, at City of Cambridge Municipal Office, 50 Dickson Street, Cambridge Ontario.The tenders will then be opened in public on the same day as soon as possible after 3:00 p.m. at the City of Cambridge Municipal Office, 50 Dickson Street, 1st Floor, Cambridge.
Description of Land(s):
Roll No. 30 06 040 028 02200 0000;
62 Ainslie St. S, CambridgeAccording to the last returned assessment rol
l, the assessed value of the land is $226,000.00.Minimum Tender Amount:$332,773.30
Roll No. 30 06 140 001 09700 0000;
95 Sheffield St., CambridgeAccording to the last returned assessment roll,
the assessed value of the land is $310,000.00.Minimum Tender Amount:$1,741,388.68
Roll No. 30 06 140 001 09800 0000;
105 Sheffield St., CambridgeAccording to the last returned assessment roll,
the assessed value of the land is $218,000.00.Minimum Tender Amount:$967,175.71
Roll No. 30 06 140 002 03007 0000; 180 Groh Ave., Cambridge; PIN 03766-0085 (LT); Part Lot 11 Plan 907 Cambridge designated Parts 7, 8, 11, 12, 13 & 14 Plan 67R2518; Part Lots 15 & 17 and Part Reserve Lots B & D Plan 908 Cambridge designated Part 1 Plan 67R1091, as in WS758159; S/T WS758159; S/T WS627418, WS647980, WS654107; Cambridge; File No. 18-25
According to the last returned assessment roll,
the assessed value of the land is $ 2,715,000.00.Minimum Tender Amount:$3,452,110.08
Tenders must be submitted in the prescribed form and must be accompanied by a deposit of at least 20 per cent of the tender amount, which deposit shall be made by way of a certified cheque/bank draft/ money order payable to the municipality.
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, contact:
The Corporation of the City of Cambridge
Tax Division
50 Dickson Street
P.O. Box 669
Cambridge ON N1R 5W8
519-740-4524 ext. 4068
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