Thursday, July 19, 2012

The Sale of CFB Ottawa North

     The Canada Lands Company is buying federal real estate with promissory notes. According to the document "Canada Lands Company Annual Report for the year ended March 31, 2008":
         "...all government departments are now able to accept promissory notes from CLC in lieu of cash at the time of closing without having to obtain Order-in-Council approval."
     Canada Lands paid $17.5 million dollars for 618 acres of land at CFB Edmonton, Alberta:
     Order-in-Council - November 3, 1999 - Transfer to the Canada Lands Company of 618 acres of land in Edmonton, Griesbach Barracks." (The Privy Council Order-in-Council books are stored at Library and Archives Canada on Wellington Street in Ottawa).
     Twenty seven million dollars is a bargain basement price for the former RCAF/CFB Rockcliffe. The nearby Rockcliffe Park is one of the richest neighbourhoods in Canada.

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