The announcement was low-key, made through a provincial press release, but could have lasting repercussions for a number of high profile properties in both cities.
In Summerside alone the SRDC owns and operates the Holman Building and the Harbour Quay building and a newly constructed engine test cell attached to Vector Aerospace’s building in Slemon Park as well as various other developed and undeveloped interests.
In addition to the province, the other SRDC shareholders are the Greater Summerside Chamber of Commerce and the City of Summerside. The province has said it will negotiate with both parties to absorb their shares in the corporation.
Chamber President Dan Kutcher said Thursday that he has yet to be contacted by anyone from the province to discuss the takeover and only found out about it through the media.
Until the province shares more information it is difficult to say whether this takeover will be good or bad for the community, said Kutcher.
“We don’t know what it’s going to be. So we really need to see something before we can provide comment on whether we think it’s a bad idea or a good idea,” he said.
Summerside City Councillor Bruce MacDougall also said Thursday that the municipality is largely in the same predicament as the chamber. They just don’t know enough yet to say what they think about the takeover one way or the other.
However, MacDougall did say that whatever replaces SRDC, if indeed it will be replaced or revamped in some fashion, should have strong input from the local community.
“I just want to make sure that the city and the area in general is well represented if and when the new body takes over,” said MacDougall, who is one of two directors representing the city on the SRDC board, the other being Mayor Bill Martin.
Arnold Croken, general manager of the SRDC, added that as far as his board of directors is concerned, the company will operate as business as usual until told otherwise.
“Our board has been notified that there are changes coming, but we have not been given the details of those changes,” said Croken.
“We’re going to continue to stay active on the files we’re pursuing until someone tells us otherwise.”
@JournalPMacLean
