Developer Harry Stinson has paid enough overdue taxes to avoid a sale of his Cannon Knitting Mills in Hamilton, keeping alive his nearly decade-long quest to convert the historic complex into condos.

“A very substantial amount of money was paid to the city,” Stinson said Tuesday, ahead of what was to be an afternoon deadline for hopeful owners to submit bids via a city tax sale for 134 Cannon St. E.

That unspecified amount was sufficient to cancel the tax sale of the sprawling red-brick complex next to Beasley Park and ensure the property is “no longer three years in arrears,” Clayton Pereira, the city’s director of revenue services, confirmed via email.

If property taxes have been in arrears for two years, the city can register a lien on the address. At that point, the owner has

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