LETTERS: Expropriation an opportunity

Editor:

Re: Water negotiations ‘not going well’, June 19.

Editor:

Re: Water negotiations ‘not going well’, June 19.

It appears the City of White Rock has wisely sought public approval of the use of expropriation – a forced sale and government takeover – to now quickly acquire the Epcor-owned and operated water utility.

However, at its June 16 public meeting, the city heard much more than a simple carte-blanche endorsement of expropriation.

The city heard that the 2.67 acres at 1454 Oxford St. that the city allowed Epcor to break off from its other utility land holdings and subdivide in May 2013, two months after the city had announced its intention to acquire the water utility, must be included in the assets the city is taking over through expropriation.

This parcel of land has been sold for a reported $12 million, subject to the purchaser receiving favourable OCP amendments and rezoning to enable the construction of twin highrise towers of 24 and 21 storeys. But no such amendments and rezoning have happened; the sale is a long ways from being finalized, if ever.

This land is still owned by Epcor, and one of the assets obtained when purchased for $9 million in 2005. As such, it must be included among the assets for expropriation.

As a matter of principle, Epcor ought to be barred from selling off any of its assets subsequent to the city’s 2013 public announcement of its intention to acquire the water utility. Certainly receiving a fair market value of $20 million for a company that Epcor paid only $9 million for in 2005 should be a sufficient capital gain.

The city has a rare opportunity with this cheap utility land to create a lasting public legacy at never-to-be-seen-again rock-bottom prices.

Dennis Lypka, White Rock

 

 

Just Posted

Federal NDP may support B.C. with major projects, Carole James says

SkyTrain Surrey extension, Massey Tunnel need Ottawa’s help

Player-of-year Seumanutafa leads UBC to women’s rugby title

Semiahmoo grads help Thunderbirds to first-ever Canada West rugby title

Diwali in Surrey: ‘Festival of light’ celebrations at several halls, a library, other venues

This year Diwali is on Sunday, Oct. 27, but Surrey-area events are held over a two-week period

People’s Party of Canada not finished, defeated Surrey candidate says

Surrey’s five PPC candidates combined received 4,213 votes

Owner of now-closed South Surrey seafood store pleads guilty to illegally importing fish into U.S.

‘We would not put customer health and safety at risk’: Seven Seas Fish

Scheer says Canada more divided than ever, as NDP and Bloc hold cards close

While Liberals were shut out of two key prairie provinces, they took two-thirds of the seats in Ontario

Saanich Gulf-Islands’s Elizabeth May coy about leadership plans

The federal Green party leader talks possibility of running as MP without being leader

Estheticians can’t be forced to wax male genitals, B.C. tribunal rules

Langley transgender woman Jessica Yaniv was ordered to pay three salon owners $2,000 each

Two youth arrested in UBC carjacking at gunpoint, after being spotted in stolen Kia

‘A great deal of credit is due the alert person who called us,’ said North Vancouver Sgt. Peter DeVries

People’s Party of Canada’s anti-immigration views ‘didn’t resonate’ with voters: prof

Party was formed on anti-immigration, climate denying views in 2018

Windstorm knocks out power for 10,000 in north and central B.C.

Power slowly being restored, BC Hydro says

Three sprayed with mace during altercation at Port Coquitlam high school

Mounties are still working to determine exactly how many youth were involved

Investor alert: ‘Split games’ pyramid scheme circulating in B.C.

British Columbia Securities Commission issues warning about scheme selling virtual shares

Federal NDP may support B.C. with major projects, Carole James says

SkyTrain Surrey extension, Massey Tunnel need Ottawa’s help

Most Read

l -->