Monday, February 18, 2013
In 1993, the CNR paid one dollar for 78,300 acres of federal land. Two years later, the CNR was privatized.
2005 November Report of the Auditor General of Canada
8.30 - In the early 1990's, the federal government undertook various initiatives to commercialize certain assets in the transportation sector. In July 1993, Transport Canada signed an agreement with CN whereby it transferred to the crown corporation, for one dollar, all rights, titles, and interests in, and to the Quebec Bridge and other lands CN used in various parts of Canada.
The federal government had begun to acquire these lands in 1870 and had assigned the management and operation of these lands to CN in 1923. According to Transport Canada, the government had transferred 78,300 acres of land, 80 percent of which was designed for railway use. CN estimated the total value of these lands at $104.2 million at the time of transfer. The 63,000 acres used expressly for railways, particularly lands used for right-of-way, stations, and marshalling yards, were valued at an estimated $67.7 million, while the 15,300 acres not required for railway activities were estimated to be worth $34.5 million.
Taxpayers of Canada paid $252,000 dollars to decommission and remediate CNR land in Edmonton, Alberta; two bridges and a tunnel were removed to accommodate the construction of Oliver Village:
Posted by savecfbrockcliffe's blog at 7:31 AM