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The municipality of Cochrane, Ont., is selling residential lots for $10 a piece in hopes of attracting more new residents.
That’s $49,990 off the usual price, according to Mayor Peter Politis. He told the CTV News the town of 5,300 is on a mission to jump-start property sales.
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“We’re doing what any progressive organization would do,” Politis said. “We’re being aggressive and opportunistic about attracting folks.”
Cochrane is located in northern Ontario, close to an eight-hour drive from Toronto.
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The plan will also offer a property tax rebate for five years.
Details are still to be released. The program is set to launch in 2024.
“This is all about building homes. We don’t care where you’re from or what part of the world you’re coming from, local or otherwise,” Politis said.
Prospective migrants can look forward to its natural beauty and wildlife. The city also boasts of the only animal sanctuary in the world dedicated to the care of polar bears.
The city’s largest sectors are mining, forestry and agriculture. Construction, trades and hospitality and tourism are also prominent industries, the city website says. “Close to 20% of all businesses in Cochrane are entrepreneurship based,” it adds.
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Politis told CTV interest has been strong. Community feedback has been both positive and negative since the program was announced early this year.
“People are a little paranoid about, you know, growing too fast and becoming big,” he said. “But another part of the community also recognizes the generational opportunity.”
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