Latest news with #developer
Bloomberg
3 days ago
- Business
- Bloomberg
Small City in Washington State Files Rare Bankruptcy Over Developer Dispute
A small city in Washington State filed a rare municipal bankruptcy after failing to reach an agreement with a developer over a $26 million court judgment. Cle Elum, a city of 2,200 about 80 miles east of Seattle, said it couldn't afford to pay the debt to developer City Heights Holdings LLC, and was insolvent.
CTV News
4 days ago
- Business
- CTV News
Waterloo Region and Amazon developer reach agreement on $13.7M discount dispute
The Region of Waterloo has reached a settlement with the developer of Amazon's fulfillment centre in Cambridge after the project was mistakenly given a $13.7 million discount. The region said both parties agreed to resolve the matter to 'avoid the costs of further litigation.' As part of the agreement, the developer will pay more than 75 per cent of the $13,719,572 requested by the region. Amazon Fulfillment centre Blair A sign for the Amazon Fulfillment centre on Old Mill Road in Blair on September 6, 2024. (Dan Lauckner/CTV News) 'The region is pleased that the developer will pay the majority of the development charges,' Coun. Michael Harris, chair of the Region's Strategic Planning and Budget Committee, said in a media release. 'This is a good deal for residents and for the Region of Waterloo. It will ensure additional funding for major infrastructure, helping us achieve our strategic objectives as the region continues to grow.' The region also withdrew its motion for leave to appeal with the Ontario Divisional Court. Amazon fulfillment centre Cambridge The Amazon fulfillment centre in Cambridge, Ont. on Nov. 13, 2024. (Heather Senoran/CTV News) History of the dispute The discrepancy dated back to 2022. The Region of Waterloo collects a development charge on new construction projects to help cover the costs of necessary infrastructure upgrades. Warehouses, however, get a 60 per cent discount. In July 2022, the developer was quoted $9,082,948.59 in development charges for the property at 140 Old Mill Road in Blair. That amount was paid to the region on Aug. 18, 2022. amazon warehouse The warehouse is being built at 140 Old Mill Road, Cambridge. (Dave Pettitt/CTV Kitchener) The region later claimed they were not aware an Amazon fulfillment centre would be built there at the time the discounted rate was calculated. They also told the Ontario Land Tribunal it did not qualify as an 'industrial building' as defined in the regional bylaw. A Notice of Re-assessment for the additional $13,719,572 was sent out on Nov. 8, 2022. Amazon fulfillment centre Cambridge The Amazon fulfillment centre in Cambridge, Ont. on Nov. 13, 2024. (Heather Senoran/CTV News) In response, the developer went to the Ontario Land Tribunal. They argued they should not have to pay the extra money as the development charge had already been assessed, issued and paid, and the building permit was approved. The tribunal ended up siding with the developer. 'The tribunal finds the [Development Charge Act] or the [Development Charge] Bylaw does not permit a municipality to impose an additional development charge, or a corrected amount, after a development charge has already been assessed, collected, and certified, and a building permit issued for the development,' they stated in their decision.
CTV News
4 days ago
- Business
- CTV News
Major housing development dropped in Anmore
Vancouver Watch A housing project in Anmore that would have seen 1,750 homes added to the small village has been pulled by the developer.
BBC News
4 days ago
- Business
- BBC News
Doncaster: Homes on former greenbelt recommended for approval
Plans for 186 new homes on former greenbelt land in South Yorkshire have been recommended for approval. The homes would be built off Averley Lane in Balby, with the land removed from the greenbelt four years ago when City of Doncaster Council agreed its local development is set to have 43 properties marked as "affordable homes", with the 143 others "market housing", the Local Democracy Reporting Service said. A report said the site is "allocated for housing within the Doncaster local plan and is therefore acceptable in principle". The plan received 72 third party objections, two neutral representations and one in recommended the council's planning committee to grant planning permission, subject to a number of developer should be required to pay for bus service improvements totalling more than £100,000, the report said, along with £50,000 towards a scheme for greenbelt compensatory local authority will discuss the application on 1 July. Listen to highlights from South Yorkshire on BBC Sounds, catch up with the latest episode of Look North
Malay Mail
17-06-2025
- Business
- Malay Mail
Railtown AI Technologies Inc. Announces Strategic Partnership with Quantum.IQ and Private Placement
***NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES.*** Vancouver, British Columbia - Newsfile Corp. - June 17, 2025 - Railtown AI Technologies Inc(CSE: RAIL) (OTCQB: RLAIF) ("Railtown" or the "Company") a leading innovator in AI-driven developer solutions, is pleased to that its wholly owned subsidiary, Railtown AI Tool Corporation, has entered into a licensing agreement with AI Technologies Inc. (" This marks the beginning of a strategic partnership aimed at expanding Railtown's Application General Intelligence™ platform into the rapidly evolving field of quantum computing infrastructure and development. The partnership will specifically extend Railtown's Conductor platform to power a first-of-its-kind hybrid quantum cloud platform, designed to assist developers in seamlessly integrating quantum computing into real-world the agreement, Quantum IQ will license and extend the Railtown Conductor platform to enable intelligent orchestration between classical and quantum computation resources. The system will help developers identify, transition, and optimize sections of workloads for quantum execution, while maintaining critical non-quantum components on all traditional infrastructure, whether local hardware systems, public-cloud infrastructure, or on accelerated AI platforms such as platform will serve as a critical enabler of the emerging quantum-ready software development lifecycle (Q-SDLC), offering developers a comprehensive toolkit to bridge the complexity gap between classical and quantum systems. The platform will include modules for code analysis, algorithm optimization, runtime observability, and workload decomposition — all powered by Railtown's agentic AI framework."We built Conductor to enable adaptive, AI-driven software systems," said Cory Brandolini CEO of Railtown AI. "Quantum IQ is using that foundation to tackle one of the most significant frontiers in computing — and we're thrilled to support them. As quantum moves from theory to practical utility, the tooling for real-world development needs to keep pace. With Railtown's infrastructure, will build a platform that allows developers to engage with quantum computing meaningfully, not as a separate discipline, but as an extension of existing workflows."A cornerstone of the platform will be "quantum observability," providing developers with detailed insight into application performance across both classical and quantum layers. This functionality is expected to unlock new opportunities for hybrid application design in sectors including finance, logistics, climate modeling, and advanced research. plans to integrate with current quantum cloud providers such as IBM Quantum and D-Wave, alongside scalable infrastructure from the largest computing industry "hyperscalers" and AI-native compute platforms.A developer preview version of platform is planned to be available later this Railtown would like to announce a strategic investment via private placement of 1,200,000 units at $0.50 raising $600,000; each unit shall consist of 1 common share and one-half of a common share purchase warrant exercisable at $0.75 for a period of 18 months from AI Technologies is a leading provider of developer productivity engineering platforms powered by artificial intelligence. Its flagship Application General Intelligence™ platform helps organizations streamline software development, reduce time-to-resolution, and scale innovation with automated root cause analysis, performance optimization, and intelligent workflow is a private Canadian company driven building the next generation of quantum-AI hybrid computing solutions. The company's proprietary quantum software development platform enables intelligent orchestration between classical and quantum computation resources. The system will help developers identify, transition, and optimize sections of workloads for quantum execution and assist the development of next-generation simulation environments, and AI-assisted tools that advance quantum research and commercial deployment. Click here to receive our latest investor news alerts."Cory Brandolini"Cory Brandolini, Chief Executive OfficerRebecca KerswellInvestor Relations ContactEmail: [email protected] Phone: 1-604-417-4440This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will," "may", "should", "intends", "anticipates", "expects" and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the future plans and objectives of the Company, the commencement of trading of the Company's common shares on the CSE, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities are cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that any forward-looking statement will materialize, and readers should not place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law. The issuer is solely responsible for the content of this announcement.
