Helping Canada Lands get its bearings

In all the discussion about the Garden City Lands, some participants have lost their bearings. They have lost their focus on the purpose of the federal government when it entrusted the land title to a crown corporation. That becomes clear when we refer to the press release from Fisheries and Oceans Canada, which was in charge of the Lands. This was the purpose:

to divest the Garden City property in accordance with the MOU while realizing market value for the Crown and ensuring the site will be in good hands to plan its future on behalf of local needs and interests (Fisheries and Oceans Canada, NR-PR-05-016E, March 18, 2005)

It entrusted the property to a crown corporation, Canada Lands Company CLC, which should still ensure that the site will be in good hands to plan its future on behalf of local needs and interests. Whether the Lands are within the ALR or excluded from it, the duty of CLC remains the same. The only difference is that the market value that the government will expect will be lower if the Lands remain within the ALR.

Near the end, the press release provides a summary of the deal under the MOU (the memorandum of understanding, the initial agreement, which still applies):

The MOU provides that the property will be transferred to the CLC for $9.54 million and will be divided 50 percent to Richmond and 50 per cent to a joint venture project involving the Musqueam Indian Band and the CLC as equal partners.

Enough said.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s