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Concord Pacific land assessment to be checked

May 5th, 2010 · 28 Comments

Mike Howell at the Courier has been on the case this week about why the big tract of land that Concord Pacific owns in the northeast corner of False Creek has been valued so low in land assessments, i.e. only $400,000 — less than the value of an average 33 X 120 lot in the city.

Irate local residents, who’ve been angry at Concord Pacific for over a decade because of their decision to delay building the park in that corner, have been complaining about this for a while. Their unhappiness has accelerated in recent months with Concord’s proposal to make the future park a long band along the seawall, with condo towers behind it, instead of having a big square block of park with towers clustered closer to the Plaza of Nations and BC Place.

While the city is not responsible for what BC Assessment Authority does, city manager Penny Ballem has promised to look into the situation, according to Mike’s latest story. You might think there’s nothing the city can do, but in fact the city has appealed to BCAA in the past over assessments that staff thought were too low and has fought to prove that they’re worth more.

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