Printer Friendly

Temagami resort proposal moves ahead following Native agreement.

Temagami resort proposal moves ahead following Native agreement

A proposal to construct a $60-million resort in the Temagami area moved closer to fruition following a joint-venture agreement with the Local Native group.

Lorne Price, president of Temcor, a development company, said the Teme-Augama Anishnabai band will become a 16.5-per-cent partner in the company under the agreement.

The agreement, which follows a year and a half of negotiations between the development company and the band, also calls for the joint venture to be managed by a six-member committee with three members appointed each by Temcor and the band. The seventh member acts as chairman of the committee. The band will be able to elect one member to Temcor's six-member board of directors, and the company's business dealings will be restricted to investment in the joint venture.

Prior to the agreement, the company was comprised of local residents Robert Gareh, William Kitts, George Hendrickson and Price.

In a telephone interview with Northern Ontario Business, Price said the plans for the first phase of the project have been pushed back to give the company time to secure more capital for the $12-million segment of the project.

Construction of an 80-room hotel with conference and restaurant facilities, development of a nine-hole golf course and upgrading of the Caribou Mountain ski hill were originally scheduled to begin this year, but Price said construction has been rescheduled for next spring.

"We're aiming for late April or early May," he said.

Price said a lack of financing is still holding up the project. The Temcor president said the company and the band will each pick up a third of the cost for the first phase, and negotiations are underway with the provincial government to pay the remaining third of the cost.

Company officials have estimated that the resort will create approximately 450 jobs.

Once completed, the project will occupy some 1,200 acres and will include facilities such as a Native cultural centre and an environmental studies centre.
COPYRIGHT 1990 Laurentian Business Publishing, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1990, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:News and Features
Author:Krejlgaard, Chris
Publication:Northern Ontario Business
Date:Sep 1, 1990
Previous Article:Investors said to be undeterred by Algoma work stoppage.
Next Article:Hope for settlement fading as strike drags into the eleventh month.

Related Articles
Temagami wilderness agreement unsatisfactory to many.
Temagami still awaits final word from Pyrok.
The north needs a new image.
Pyrock reviewing Temagami proposal.
A bygone era: a piece of Cuernavacan culture risks losing the ground it stands on. (Spotlight).
Retreats with cultural appeal: Tipi Camp offers corporate retreats in North's wilderness.
ONTC party hoped to lead to bigger things: tourism and EDOs hope to build on centennial, expanding the city's tourism offerings to spring and fall...
Junior leads diamond 'rush' by example; Sharing and comparing data with Discover Abitibi helped Tres-Or spark the biggest staking rush to hit the...
Putting their heads together.
New Infrastructure dollars for the Northeast.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters