Quote:
Originally Posted by stone hands
Interesting article - would domtar still be on the hook if the city didnt buy the land? The article states:
When council approved the purchase of the GSL Chevrolet dealership lands at an in camera session a year earlier, a report from the city’s corporate services department noted that an environmental review was underway and that any concerns would be reported.
Does this mean if the city didnt buy it, then a car dealership would have been on the hook for 300 million to clean it up?
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I think the land was for sale and developers tried to buy it but couldn't afford the cleanup and Domtar wasn't doing it. To get it moving the City purchased it and assumed the clean up costs. Now Domtar is off the hook. IF the City hadn't purchased it then Domtar would be responsible for the cleanup. This is one big reason companies should do environmental testing before purchasing any property.