Quote:
Coun. Gian-Carlo Carra told Postmedia the city will sell the real estate at full market value.
“The city’s going to get a long-term tax base that supports the investment,” Carra said. “Giving (CSEC) avenues to reinvest that capital back here is absolutely essential to the entire deal.”
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I'm not sure Carra is the guy I'd trot out for assurances that everything related to a land deal will be absolutely above board.
I'm also not sure how you determine a fair (or apparently full?) market value for fairly unique parcels by restricting your market to one bidder. Nor how you maximize the overall outcome of those parcels by restricting yourself to one bidder who seems to have little to no experience in blank slate urban development.
IMO you can justify a pretty wide range for 'fair' market value. Considering the sale of public land should be a lot more nuanced and considered, as there is always also an option to not sell and utilize it for something else, should the free market indicate underwhelming external value.