Land sale concerns

Land sale concerns

LETTER: Free market precludes the accusation of favouritism

On the front page of the Nov. 29 Morning Star I saw that the City of Vernon is selling the McMechan reservoir site to a developer. The reservoir is immediately west of Mutrie Road between 39th and 43rd Avenues and page 6 of the issue shows a notice of the sale with a map. The site contains approximately 7.9 hectares [19.6 acres] and the City has reached a negotiated selling price of $6.49 million, or $821,500 per hectare [$331,000 per acre]. I have no idea if this price is fair or not, however I agree with Councillor Scott Anderson that the free market should have determined a price, rather than a negotiated price with a single developer. No doubt the City used at least one professional land appraiser, but, this is still an estimate. The free market also precludes the accusation of favouritism.

Al Cotsworth