General Urban Waterloo Updates and Rumours

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The City of Waterloo owns the land that CIGI is sitting on.  According to CIGI, the City donated the cost of the 99-year lease (started in 2009) for the non-Seagram Museum portion.  According to these City of Waterloo meeting minutes, the Seagram Museum building was sold to Jim Balsillie and the New Economy Institute for $2.5 million, which according to the City's Director of Economic Development and Marketing in 2002, was $1,265,000 less than the City paid for both parcels of the Seagram lands.