April, 25, 2008 (Toronto, ON) — Duke’s Cycle has been given a $48,000 demolition bill from the City of Toronto according to a report in the Globe and Mail yesterday. Gary Duke, the owner of the 94-year-old bike shop, called the bill a “kick in the head when you’re down”, ss if losing your business and having to pay around $250,000 to rebuild wasn’t enough.

The bill is to cover the cost of demolition for what remained of Duke’s Cycle after the Feb. 20 fire that levelled a large section of historic buildings on Queen Street.

The city wants $76,952.96 from the five property owners, but because Duke’s was the most heavily damaged in the blaze, his bill of nearly $50,000 is the largest.

Duke’s insurance broker said he’s not sure if the insurance carrier, Aviva Canada, will cover the cost, but that it will ultimately come out of Gary Duke’s pocket because there’s a cap on how much the business can be paid under the policy.

Duke’s reopened to the public on April 5 at a temporary location at 452 Richmond Street West. Duke is planning to rebuild at the old Queen Street location, but the Globe and Mail is reporting there will likely be a tax bill increase from the $15,000 a year Duke was paying to at least $90,000 because there will be a new property assessment compeleted.

For the Globe and Mail story click here.