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Norwich Block Expropriation
Expropriation of the Norwich Block completed without due diligence:
- No Firm leases
with anyone (including Chrysler Canada.)
- Promised the
Developers that the Citizens would cover any overrun cost of land
acquisition above 15 million.( actual costs according
to our sources, may escalate to 45 million)
- Converted
one of the most important commercial sites in Ontario into a
non-producing parking garage.
- The
owner of The Fast Eddy Arcade who lost his business to expropriation
was rejected as a tenant in the new structure.Must be, tenants
are lining up to occupy the new retail spaces. Is this the way
to treat
an expropriated business owner and, most importantly,a TAXPAYER
- Signed
a lease for 2 floors of unnecessary, insanely overpriced space.
- As
of the 18th March 2003, the cost of the two empty floors is close
to $500,000 with no end in sight.
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