Ontario Tax Sale Property Forum

Tax Sale Forum => Property Information => Topic started by: Pfm1011 on March 15, 2008, 03:57:42 PM

Title: Mississippi Mills
Post by: Pfm1011 on March 15, 2008, 03:57:42 PM

It appears the site is a brownfield. It was a wool dying plant which burned down in 1984 . The firm that bought it ,724597 ONTARIO INC  DBA Appletex inc was done by the MOE for polluting at a plant down the street but it appears this one is also of MOE "interest"  I cant find specific reports but have found references in council minutes pertaining to the site and MOE brownfield programs.

If anyone does go there to look at it , prior to bidding , take a water sample of the two discharge ponds.Will not be pretty as tinting and dying plants are serious environmental nightmares. (Kingstons waterfront lands was polluted by a tannery operation)

Interestingly , this corporation is a cited case pertaining to Director Liability in regards to Environmental damage. The Directors were held liable even though the damage occurred prior to their purchase.  Some of the reasoning was that the plant ( appleton)  was bought below market and clearly they should have known it was polluting. (which clearly they did) .

Read the case as it definitely is something all tax sale buyers should understand as we cannot do environmental assessments or soil sample prepurchase

"Free advice worth every penny"

Title: Re: Mississippi Mills
Post by: Rob on March 15, 2008, 04:07:29 PM

Thanks.  Will be advised.

Title: Re: Mississippi Mills
Post by: sloth on March 21, 2008, 02:43:47 AM

Rob,

you won't be able to take a sample at the ponds as the current owner (the numbered company) breached the ponds in November 2007 and emptied the contents into the Mississippi River.  The MOE does not consider there to be too much contamination impact, but the conservation authority is looking at the site for shore alterations without a permit.

If the site could be cleaned up, it would be a nice (and quite large) property with a lot of water frontage.  Most of the building that burned down has been removed from the site.

Title: Re: Mississippi Mills
Post by: Pfm1011 on March 25, 2008, 03:35:36 AM

Sounds like these guys are real pieces of work.. I guess better to dump the pond then to have to clean it..I will take the  "Runaway, Runaway"  route on this piece,

Title: Re: Mississippi Mills results
Post by: Pfm1011 on April 15, 2008, 12:43:31 PM

I presume this didnt sell..Can anyone confirm