A16- The Terrace Standard, Wednesday, October 24, 2007

“4. | - _ F Dn B.A Oki
C i ty fe a rs Canadian Community Newspapers Association General Dentistry, Orthodontics, TMJ
i | & CNA newspapers 200-4619 Pork Ave
OsInN g taxes | “deliver the story | | offceHaus Terace, B.C. VBG 1VS
, Mon Thurs 8:00 a.m. - 4:30 p.m, (250) 635-7611

if SCI fails

A BANKRUPTCY of Skee-
na Cellulose might cost the
city the $633,000 in proper-
ty taxes the forest company
owes here.

City officials say there
are conflicting legal opi-
nions as to whether the city
can try to force future ow-
ners of the Terrace sawmill
to pay the back taxes if
SCI goes bankrupt and its
assets are liquidated.

It’s always been as-
sumed by city council that
if Skeena Cellulose or a fu-
ture owner fail to eventual-
ly pay up, the city could
proceed to having a tax
sale and gain possession of
the sawmill and log yards.

“We're trying to figure out if this flows to bankruptcy,
do the outstanding taxes also flow with the land,” said
city chief administrative officer Ron Poole,

“We felt that it did flow with the land,” he added.
“But the province seems to indicate through their solici-
tor it doesn't. We're trying to figure it out.”

Protection from its creditors has been extended to SCI
uatil Nov. 5,

Without significant progress lowards a sale by then,
it’s likely the Toronto-Dominion Bank would be success-
ful in convincing the court to petition the company into
bankruptey.

The tax sale option would be the city’s backup posi-
tion if it isn’t able to get what il’s owed through either a
restructuring of the company or through bankruptcy pro-
ceedings.

Also unclear, Poole said, is the city’s position in the
line of creditors in the event of bankruptcy.

The city believes it is ahead of the TD bank, but be-
hind the province. ,

“The province seems to think it’s the province, the
banks and then us,” he said.

If that’s the case, there would be no money left after
the bank gets what it’s owed.

The $633,000 SCI owes represents about 80 per cent
of one year’s property taxes for the company in Terrace.

In July it paid off arrears and about 20 per cent of this
year’s bill. .

The amount owed to Terrace is small relative io the
nearly $12 million in property taxes SCI owes the City
of Prince Rupert.

“Tt isn’t bad when you Inok at the province, the TD
and Rupert,” Poole said,

Getting busy in Rupert
A PRINCE RUPERT émiployment services agency is
tailoring its offerings to the hundreds of people in that
city affected by the months-long closure of the Skeena
Cellulose pulp mill there.

The North Coast Community Skilts Centre is staging
sessions on changing jobs, preparing resumes and finding _
and preparing for new jobs.

It comes from the growing number of people coming
through the centre’s doors who are out of work because
of the mill’s closure, says Shirley Kimery of Human Re-
sources Development Canada which finances the centre.

“They're getting a lot of “what's out there” types of
questions,” said Kimery who is based in Terrace.
“Instead of one-on-one on a drop-in basis, they decided
group sessions would be mere beneficial.”

That level of requests from locals hurt by Skeena
Ceilulose’s shutdown of its operations here hasn’t yet | ANADA
materialized, said Kimery.

There is an increase in employment insurance appli-
cations but that’s considered normal for this time of year
now that the summer tourist season has ended.

Kimery did say her officials are in contact with local
community leaders and have offered their assistance if
and when required surrounding the situation regarding
Skeena Cellulose.

Be

Ron Poole

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