NEWS RELEASE · 28th September 2010
City of Prince Rupert
The City of Prince Rupert announces that a joint venture involving the Metlakatla Development Corporation, the Prince Rupert Port Authority and the Lax Kw’alaams Indian Band are considering the acquisition of the Watson Island site from the City of Prince Rupert.
In exchange for exclusive rights regarding Watson Island, to allow time for such things as feasibility and business planning, the joint venture will cover the monthly maintenance costs for the industrial site.
The joint venture involves local, regional, and national entities, and could beyond the acquisition of the site, provide for local employment and involvement from wi9th in our region, stated Mayor Jack Mussallem.
Prince Rupert City Council supports the three way joint venture, and the parties involved in their acquisition of Watson Island. Clearly there are greater opportunities for residents and businesses within our area, when considering this proposal, than with others that were given consideration by Prince Rupert City Council.
It is anticipated that due diligence and a feasibility study by the joint venture regarding the Watson Island site, could involve six months to a year time period.