Cranbrook council has ended the covenant on the former Tembec lands.
City staff has been working with Colliers as part of the court ordered the sale of 1479 Theatre Road.
That was part of foreclosure proceedings between the City of Cranbrook and Peak Cranbrook Properties Ltd.
The BC Supreme Court ordered the sale of the land on Aug. 6 to 1271410 B.C. Ltd.
They requested the City release covenant from the property title.
The old covenant was registered in 1972 and provided restrictions that would now be governed by the City’s zoning bylaw.
Council has approved the removal, but city staff will be forwarding to the city’s legal department.
If any concerns are raised it will come back to council for consideration.
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