Monday 12 January 2015

Secretive Land Sales at Bargain Prices

There have been several sales of public land recently, at prices (per square foot) less than half of the assessment of nearby properties. The MGA says both assessment and sale prices must be "market value". There may be legitimate reasons for these low valuations, but since everything is done in secret we have no way of knowing. According to the CNP "Disposal of Municipal Property" policy:
2.6 If Council elects to sell the lands or improvements, the Chief Administrative Officer, or designate, shall have an appraisal done on the subject property to assist in establishing the fair market value price.
...
2.8 A notice will be placed in the local newspaper(s) for two consecutive weeks advising of the intended sale of the property.
Have you seen any notices? I think the appraisals are public information according to FOIP. There should also be an appraisal on the land being given to Chinook to settle the lawsuit.

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