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[Johnson Street Bridge REPLACEMENT] General, technical, design and naming discussion


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#7681 Mike K.

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Posted 10 April 2019 - 11:15 AM

Or the amount the City was asking for the land wasn't economic for Reliance.

 

The City's most recent ask, from what I understand, was very high but that aside there is now a movement afoot at the council table to thwart public land sales.

 

And the developer would still be on the hook for costly soil remediation. Ultimately the significantly higher ask, the remediation and political wrangling that's emerging made for a difficult situation and Reliance backed out.


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#7682 spanky123

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Posted 10 April 2019 - 11:36 AM

The City's most recent ask, from what I understand, was very high but that aside there is now a movement afoot at the council table to thwart public land sales.

 

And the developer would still be on the hook for costly soil remediation. Ultimately the significantly higher ask, the remediation and political wrangling that's emerging made for a difficult situation and Reliance backed out.

 

Well presumably if the City extended an offer then Reliance could either accept or reject that offer and what council's future opinion might be wouldn't be an issue!

 

Having said that I think that council is right in wanting more oversight when past practices seem to have been to sell property to developers for x and then buy it from land owners/developers for 3x-4x


Edited by spanky123, 10 April 2019 - 11:38 AM.


#7683 aastra

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Posted 10 April 2019 - 11:57 AM

 

...council is right in wanting more oversight when past practices seem to have been to sell property to developers for x and then buy it from land owners/developers for 3x-4x

 

For sure. It goes without saying that they're just trying to help out the beleaguered CoV taxpayers.


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