Statement of Facts
Landrex Inc. is transferring title and ownership of approximately 90 acres of land, valued at 5 million
dollars, to the Landrex Charitable Foundation.
Purpose:
The purpose is to provide shelter for neglected and abused animals as well as provide accommodation for charitable organizations such as Big Brothers and Big Sisters, and Little Warriors. This will, in addition to providing for the animals, allow children an opportunity to walk on the land, sleep overnight, and interface with the animals. The management and operation of the animal facility will be under the supervision of SCARS (Second Chance Animal Rescue Society).
Additional Contribution:
Landrex will develop a 54 lot subdivision immediately north and adjacent to the charitable lands and
will contribute the profit from this development to build parking and accommodation for the children.
This contribution of profit is estimated at 1.5 million dollars.
Benefits to the Town:
- There will be no financial contribution of any nature from the Town of Gibbons whatsoever.
- The residential development will increase the population by some 125 people thereby creating
economic benefits to local businesses. - An opportunity exists for local community members to volunteer.
- Landrex will continue to provide public access to the river.
- This exciting charitable use will enhance the town of Gibbons’ image and its residents in the
greater metropolitan Edmonton area.
Heartland Meadows (Clarification):
There have been some misrepresentations regarding the above subdivision.The Town wanted to encourage development in order to increase its cash flow through additional property taxes. In order to accomplish this goal, the Town provided the lot servicing money which was borrowed from the Province of Alberta and this loan is repayable over 15 years. When built out, this development will do exactly as planned, and add an additional $170,000 annually to the town’s revenue. Landrex paid for the land and is repaid over time as each home is occupied. Landrex repays the servicing monies to the town, including all accrued interest, over time as each house is occupied.
These monies will be fully repaid in 2026 some 8 years ahead of the 15 year Province of Alberta loan.
We trust this explanation is sufficient to clarify the misrepresentations that have been made.
Should you require additional information, please submit your request in writing to
Attention: Garry Wetsch
garry@landrex.com
