Perfetto Holding takes over Lively industrial park properties

Industrial properties in Lively, with an unpaid tax bill going back more than two decades, have been sold by the city of Greater Sudbury.

The city file on three industrial properties on Fielding Road details an unpaid tax bill of millions of dollars that's been racked up since 1993, back when it was the Town of Walden.

Taxation manager Tony Derro said it's a good feeling to finally put that file to bed.

"It is. It's a success story."

After three failed attempts to sell the properties, the fourth time was a charm.

A local company called Perfetto Holding has purchased the properties for close to $1.6 million.

Previous buyers were scared off by soil contamination on the site, but the city said the property has been sold as is.

'It couldn't be helped'

Derro said the city does lose some money in the deal, however.

The sale won't cover the $2.8 million in back taxes still leftover.

Derro said the city diverted the rent paid by businesses on that land into city coffers for the last 10 years, to make up for the shortfall.

"It couldn't be helped. All efforts were made under the municipal act to deal with the situation."

But now there's a new owner who will, presumably, pay the property tax bill in the years to come.

Derro said the public shouldn't see this as a sign that people can escape the taxman.

"We try not to let that happen," he said.

There is no word yet on what the new owner has planned for the Fielding Road properties, but they do come with several existing buildings and tenants.