Stop The Sale Of Federal Buildings!

Update - Aug 21 2007: The Government has proceeded with the sale of the first nine buildings, including 401 Burrard and Sinclair Centre in Vancouver. This is only the first phase of a program to sell up to 40 properties owned by Canadians.

The buildings sold for more than $600 million less than their actual value to Larco Investments Ltd., according to an analysis conducted by the economic research firm Informetrica Ltd.

Informetrica values the prime federal properties at almost $2.3 billion, yet Public Works and Government Services Canada announced the sale of the buildings for only $1.64 billion.

Aside from it being simply a bad deal, the sale of these public assets – property that belongs to the people of Canada – lacks accountability to Parliament and to the people of Canada.

Send an email to your MP letting them know that Ottawa should scrap its plans for additional property sales and come back with an alternative that makes economic sense for taxpayers.

Click the links on the left for more information about 401 Burrard and Sinclair Centre - buildings that are now owned by Larco Investments Ltd, not the people of Canada.

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As you may know, the Conservative government has sold nine well maintained buildings owned by the people of Canada for more than $600 million less than their actual value to Larco Investments Ltd., according to an analysis conducted by the economic research firm Informetrica Ltd. Informetrica values the prime federal properties at almost $2.3 billion, yet Public Works and Government Services Canada announced the sale of the buildings for only $1.64 billion. This is only the first phase of a program to sell up to 40 properties owned by Canadians. I feel this is a bad deal for all Canadians. The sale of these public assets - property that belongs to the people of Canada - lacks accountability to Parliament and to the people of Canada and I am gravely concerned by these developments. As a member of your constituency, I would like to know where you stand on this issue, and call upon you to demand transparency and accountability in this matter and put a stop to the sale of our public assets when you return to Parliament in the fall.

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