Last night, January 23, I stopped by City Hall around 6pm. Evidently, councillors were in one of their increasingly common closed meetings from which the public is excluded. The agenda was not yet displayed. As of last year, a decision was made to not post the agendas for Monday evening council meetings until the preceding Friday afternoon.
The security guard posted outside council chambers suggested the agenda might be posted outside the clerk’s office. While I did not see any useful agenda posted, I was intrigued by a small notice. I wrote down the details and a Google search found a similar ad posted in local news oulets as required by law.
If you haven’t figured it out yet, this is essentially a legal notice informing the people of Burnaby intends to sell a piece of property , 4026.78 square feet for $869,616.
According to my sources, the city owns over 400 properties. They do not disclose their whereabouts to the general public as it would compromise “the economic interests of the municipality” to do so.
As of 2015, the City holds “land inventory held for resale” valued at historical prices at $101,992,562. The property above is clearly one of these properties.
Where is this property you might wonder? Using the PID or “property identification number” and BC Assessment’s website, you can find the answer. To save you time here it is.
Evidently, City negotiators will extract an additional $8616 above the previous year’s assessment.
Given the location of this property close to Hastings in the heart of the Heights, we wonder if this was a good deal for the City?
Comparable properties with “tear downs” in the area were selling last year for $1.14 to 1.5 million.
A search of the numbered company, 1028651 shows that on Feb 25, 2015 it was one of 37 numbered companies incorporated over a period of 10 hours, and it is impossible to tell who the principals are or if there are potential conflicts of interests with city officials.
This process doesn’t feel very transparent or reassuring to us.