Public Notice: Community Campus Land Lease Request
Posted on 10/15/2021
Image of a black background and words Public Notice written on itThe public is hereby notified of the following request which Stratford Town Council is amenable in granting:

• The Island Gymnastics Academy has requested that 2.5 acres of lands be leased to them for 50 years for the nominal fee of $1 per year, located in the northwest corner of the campus for the purpose of constructing a training facility.

• The fair market value of the land is estimated to be $200,000 and the value of the leasehold interest would be less.

• The new facility will provide an opportunity for residents to take part in gymnastics, dance, parkour, cheerleading, and trampoline within the community; will bring more than 1000 people to the community per week to support local businesses; and will provide opportunities for the Town to offer specific programs within the facility.

• A condition of the lease agreement will be that the Town will take ownership of the building after the lease term expires, if the tenant goes out of business or if the tenant defaults on the lease, in order to ensure that its’ continued use is compatible with the other educational and recreational uses of the Community Campus. 

Comments and questions may be directed until 4:00 p.m. AST, on Tuesday, November 2, 2021, to or (902) 569-1995.

Policy: Community Campus Land Lease Request Policy