Regina City Council unanimously approved a motion this afternoon to allow an anonymous company to buy over 250 hectares of land north of the city for $4-million.
The move comes even after AGT Foods and Federated Co-op opposed the deal, citing a lack of consultation and concern over the intentions of the developer.
FCL stated the deal would box them in, which would put a recent $2-billion deal with True North Renewable Fuels in jeopardy.
The city says the “independent commercial party” has plans for a “substantial economic opportunity for the City of Regina.” The $4-million price tag is considered below market value.
