Quote:
Originally Posted by New Era
Anyone who goes in there wants it clean. That's why it has been sitting there for 50 years. This is no different that trying to sell any property that has a known deficiency. You try and sell your house with a bad roof you are either going to have to repair the roof prior to the sale being complete, or reduce the price to compensate the new owner for the deficiency. In this particular case there is a legal requirement that the site be remediated prior to any type of construction, so I don't know how you can say that the new owner is asking for a free remediation. The CalgaryNEXT project, just like every that has come before it, has laid the burden on the City to pursue the cleanup of the site, since they are the current owner and have the appropriate resources to go after the previous owners to recover costs.
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But then they want the land for free at which point it could be sold to a private developer.
That was Zarley's point, if you "compensate the owner for the deficiency" you'll be paying them to take it off your hands, i.e. it has negative value right now.