SCUGOG: The future of Port Perry's Old Mill, a century-old fixture of the waterfront on Water St., will soon be under discussion with a market sounding exercise approved by Scugog Towship Council on Monday, April 28.
Following an audit and evaluation of the historic structure, it was discovered that the Old Mill is structurally stable, but unfit for occupancy without a hefty price tag of renovations.
"The cost of restoring and repurposing the Old Mill could be as much as $4 Million, and the cost of demolition [could be] $500,000," reads a Township staff report.
The next step for Scugog Council will be contracting a market sounding exercise, which brings in potential investors in an attempt to discover interest and proposed uses of the Old Mill.
The market sounding was valued at $23,000 by Infrastructure Ontario, but the cost will likely fluctuate since they are no longer a part of the project.
The Steering Committee behind the Waterfront Revitalization Project believes that the opportunities held in the property would be attractive enough for a private sector firm to foot the bill for restoration, re-purposing, or demolition.
Once bids are released by Township staff, further updates will be heard at a future Council meeting.