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March
1999 Newsletter
$3
Million for a Junkyard
In
late January, the Regional Council finalized expropriation
proceedings for two pieces of land for the expressway. They
paid a little more than the $5,000 per acre provided for
valley lands.
One
deal was for an auto wrecking yard on Nash Road near Brampton
Street. The Region is paying $2,950,000 for this 2.56 acre
lot, or more than $1.1 million per acre. They had originally
offered half a million but ended up settling for nearly
six times that amount. In addition, the lands are likely
seriously contaminated, and the taxpayers are now stuck
with the cleanup bill.
The
second deal finalized payment to Paletta International Corporation
for 2.1 acres of land at the corner of Mud Street and First
Road West in Stoney Creek. The land was acquired as part
of the widening of Mud Street which is classified as part
of the Red Hill Expressway project. Here the original offer
was $550,000, and the final price to the taxpayers was $1,264,444.
Paletta had threated to take the matter to the Ontario Municipal
Board, claiming that its adjacent lands were lowered in
value because of the expropriation.
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