Quote:
Originally Posted by Beatle17
When the city took over ownership of the west end they agreed to clean up the creosote problem. I have lived in Calgary since 1975 and nothing has been done, the land is valueless unless the city does it's job and has exactly zero tax revenue posibility. CSEC was basically forcing the issue and the city used every excuse to make sure it didn't happen so that they would never have to address the creosote problem.
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Yes manage the clean up, but there has also always been the belief/hope that the current owners of the original company would be on the hook and/or other branches of gov't to help. Obviously that is taking forever to resolve.
Of course the remediated land will be much more valuable. Numbers are out of my butt since it's been so long since this came up, but the scenarios are fairly simple:
A. CSEC could have helped the city with ~20% of the cost but we'd lose ~50% of land available for revenue generation.
or
B. The city can let it play out, hope costs are defrayed one way or the other, and maintain 100% of future revenue.