Ontario Tax Sale Property Forum
Tax Sale Forum => Announcements => Topic started by: Dave2 on August 11, 2008, 11:08:13 PM
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I know there are a number of high rollers on this site.
I know the price quoted is chump change for some of the members.
So just to prevent any rumours spreading,
No the entire town of Cobourg is not being sold in a tax sale.
Needless to say if anyone wants to put in a bid they will need a lot more money to
clean up the site.
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Tad bit above my budget this week ;D Whats the story with the property??
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Rumour has it they heard you might be a bidder that's why the price listed.
On a more serious note It was a former tannery which will happen to the hide of any person foolish enough to bid for it by their significant other.
Ideal property to direct one of these so called "brownfield" experts to.
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Rumour has it they heard you might be a bidder that's why the price listed.
On a more serious note It was a former tannery which will happen to the hide of any person foolish enough to bid for it by their significant other.
Ideal property to direct one of these so called "brownfield" experts to.
This site may already have been cleaned up. It is likely that the minimum value also includes MOE clean-up costs...it surely can't be just the taxes on the property. The Ministry bills the Municipality, and it becomes part of the taxes...it never gets paid.
You will recall, perhaps, the site of the famous 'plastimet' fire in Hamilton. When that property went to tax sale the minimum bid was over $6million...most of it MOE clean-up costs. Once the sale was over and no one bid, the City took the value and the MOE took the hit...it is now known as Plastimet park.
I believe the site of the Hagersville tire fire had the same ending. 8)
At any rate, it isn't worth the bother of checking into.
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How much do you think Superior Propane will go for, after clean up?
Read about and watched what occurred in Toronto, that must have been awful for quite a few people. I guess buying a property near areas zoned as industrial isn't such a good idea.
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I'm not sure that the propane site will be that bad environmentally. I wouldn't think that the plant would have any toxic material that would cause environmental damage other then the diesel fuel in the vehicles and standard cleanup stuff after any fire.There might be a few 50 gallon barrels of MEK or another solvent but they would have gone up in smoke and left no residue.
I think its a pretty good bet the place will not be reopening. With a dead fireman and injured locals I think you are looking at a park being put in, probably named after the fireman, as the lawsuits on this will be huge and the city will want to keep these people very happy . This was a big mistake by the City ( or OMB if applicable ) as this plant was only put in 3 years ago and the houses were already there. There will be more then one "I told you so" from the locals
Ideal property to direct one of these so called "brownfield" experts to If this is like Kingston, Cobourg has probably already cut a deal with a "brownfield expert" and the tax sale is just a formality to allow the City to grab the land and then sell to the brownfield developers to do something useful with.
The kingston properties were literally given to the developer to finish the clean up and build a waterfront development.