The city could use an additional 8 million dollars and that would be the property tax revenue from Canaport L-N-G if the tax concession arrangement, passed in 2005, is invalid. That estimate coming from City Manager Pat Woods.
The provincial government is looking at whether an oil pipeline at Canaport has changed its usage from importing to exporting. The tax concession was limited to importing natural gas.
Woods warns the provincial government likely wouldn’t act to change the legislation on the tax concession unless it receives a written request from the city. The issue will be discussed at Monday’s meeting of Common Council.
Meantime, Repsol has applied for permits to convert Canaport for the export of natural gas. The conversion would cost 4 billion dollars to do.
