Thursday, October 4, 2018

Report of the Auditor General of Canada - 1984.

     The People of Canada owned property worth $40 to $60 billion dollars in 1984.
Chapter 6 - Management of Real Property
6.3 - The holdings of departments and agencies reported in the government's Central Real Property Inventory (CRPI) as of March 1984 included 20 million hectares of land and 62,000 buildings (of which 5,400 are leased)...Although these assets are recorded in the Public Accounts of Canada at one dollar, their current value is estimated by the Treasury Board Secretariat to be between $40 billion and $60 billion. (From: page 107/333.)

 Canadian Pacific Railway land may be returned to the Dominion of Canada:
6.15 - We examined management of land and buildings by federal departments and agencies as well as government information on lands entrusted to the Canadian National Railways and on land grants to the Canadian Pacific Railway which could revert to the government under certain circumstances. (Page 109/333).
Reversionary land in Banff, Alberta. Sir John A. Macdonald gave the CPR 25 million acres of land and $25 million dollars, after the CPR promised to return land that was surplus to it's requirements, to the federal government. The CPR reneged on  it's agreement, and created Marathon Realty to sell the land, bridges, tunnels, railway stations, etc. Marathon was then sold in 1996 to the American mega corporation General Electric and Oxford Realty. (The above document is from the"1984 Report of the Auditor General of Canada", Section 6.90.)
The Dominion Public Building was recently sold by the Canada Lands Company to Larco Investments.
6.124 - Dominion Public Building, 1 Front Street Toronto - This important heritage building, located in a prime downtown commercial area, was built in 1930. Operated by Public Works, it contains about 31,000 rent able square metres.(more than 7 acres)... (Page 126/333).
In 1984, Treasury Board approved the renovation of the Dominion Public Building, at a cost of $41.4 million dollars.
Larco Investment plans for the Dominion Public Building- a real travesty, a joke.
Canada Lands Company received $101 million dollars during the years 1983-1984.
Department of Public Works - Chapter 13.


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