Moving library to former Moncton High could mean property tax revenue for city: MH35

A new report says it will cost roughly $4.6 million to move the Moncton public library to the old Moncton high school building, but the MH35 group trying to revive the heritage building said the library can be moved for half that amount with positive return for the city.

READ MORE: MH35 group reveals new plans for library in public information sessions

“That building will end up with a value of over $50 million so the property tax benefit for this is phenomenal and it’s chiefly the city that is going to benefit,” said Jim Lockyer, a volunteer for MH35, also known as MH Renaissance Inc.

Tweet This Click to share quote on Twitter: "That building will end up with a value of over $50 million so the property tax benefit for this is phenomenal and it's chiefly the city that is going to benefit," said Jim Lockyer, a volunteer for MH35, also known as MH Renaissance Inc.

The group is hoping to turn the old high school into an arts and cultural centre.

He said the former Moncton high school is currently owned by the province and doesn’t provide any property tax revenue for the city. So moving the library would become a source of revenue for the city for years to come.

Lockyer said MH35 can move the library and turn it into a state-of-the-art centre with plenty of free parking for about $2.2 million.

“Our figures are accurate we respect that some people can use other indicators and that’s fine but when push comes to shove and it boils down we can do it for that particular amount,” Lockyer said.

He said even if it does end up costing a little more to move the library, the city would be able to “recover their money very, very quickly” in property tax revenues.

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Catherine Dallaire, general manager of parks and leisure for the City of Moncton, said the $4.6 million estimate in the report is considered a “Class D” estimate, which means it could be 50 per cent higher or 30 per cent less than estimated.

But she said, it serves well as a starting point for the city to consider when evaluating a potential move.

The city has been in talks with the owners of the library’s current home at the Blue Cross Centre – Slate Office REIT – to discuss buy out options on the lease.

“I can’t get into any details on that right now because that information is with council at this stage,” Dallaire said.

Tweet This Click to share quote on Twitter: "I can't get into any details on that right now because that information is with council at this stage," Dallaire said.

Lockyer suggested the city could stand to make millions on the buy out of the lease and on property tax revenue.

Steve Hodgson, chief operating officer at Slate Office REIT, said in an email to Global News they “know the importance” a library has to a community.

“We believe the community needs to take the lead on deciding the location,” Hodgson said. “Once that happens, Slate will work constructively with our neighbours in Moncton to reach the best outcome possible for all concerned.”

Meanwhile, Dallaire said the city is reviewing potential property tax revenues along with a long list of pros and cons involved with moving the library, many of which are outlined in the report released this week.

“There are a number of other considerations as well. What is the impact of relocating an important civic amenity out of the downtown one that attracts 200,000 people a year,” Dallaire said.