One dollar has bought 147 years of history in the Town of Walkerton.
Thursday Bruce County council approved the sale of its jail.
It’s taken two years of debate to reach a decision on what to do with the property.
There has been lots of discussion but little agreement on what to do after the jail closed in 2011.
Bruce County Warden David Inglis calls the sale of the Walkerton Jail a calculated risk. “There’s always that fear that it may not work but we have to have some optimism.”
The plan is to turn the jail into an innovation hub where post-secondary institutions will work alongside water-related start-ups.
“Young entrepreneurs will come in and establish their own businesses in the setting.” Inglis says.
A yet-to-be-named, yet-to-be-formed non-profit group has been given six months to come up with a business plan that will attract both young entrepreneurs and young minds.
The condition on this sale is the non-profit group has to be self-sufficient.
“We have to have something in there that works and is not going to cost the taxpayers a lot of money.” Inglis says.
Walkerton resident Bruce Iserman says the situation is similar to Jubilee Hall, which was saved in the late 90’s. It’s an example of an historic building in Walkerton being re-purposed and financially viable.
“I think it could be done here again,” Iserman says. “I know there will be a lot of support.”
The non-profit will need to make at least $40,000 a year just to keep the lights on. The group has to have its business plan in place by June 2014 in order for the sale to move to the next step.
