NOVEMBER 18, 2020
News Advertiser PAGE 5
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Town of Vegreville Extends Rent Deferral for CHROMTEC Michelle Pinon News Advertiser Members of Vegreville’s town council have granted CHROMTEC another deferral on its rent payments. The CDB (cannabidiol) purification company, that rents the town-owned facility at 6620 Highway 16A, was granted a three-month deferral at council’s Oct. 26 meeting. The deferral will be for October, November, and December in the amount of $64,000 to the town. The motion was passed without any discussion or comments from members of council except for Mayor Tim MacPhee who stated, “They have some meetings planned with some new investors, so with the discussion that we had earlier we will extend the deferral till
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the end of the year.” Paul Casey, Corporate Services Director for the
Town of Vegreville, pointed out that a deferral is not forgiveness, so the rent is due and payable after the deferral period. As well, the cost of utilities is charged back to CHROMTEC as additional rent. Casey also said the Town is currently not charging interest on the deferral, however, the Town has the option under the lease agreement to charge interest on the unpaid amount. The company initially requested a three-month deferral on rent. Casey stated, “As a result of COVID19 and the subsequent Provincial shutdown in March of 2020, Chromtec asked the Town to defer rent and utility on the facility for the months of April, May and June, 2020, which was approved by council, and subsequently extended through September 30, 2020.”
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