Public Values

NDP MP calls for freeze on federal building sales

Formal request made to Auditor General for investigation.

MP Pat Martin (Winnipeg Centre) has requested a formal investigation into federal building sales.OTTAWA, November 26, 2008 — Today, New Democrat MP Pat Martin (Winnipeg Centre) sent a letter to Auditor General, Sheila Fraser requesting a formal investigation into the October 31st, 2007 sale-leaseback agreement between Larco Investments Limited, where seven federally-owned buildings sold to Larco with agreement to lease them back directly to the federal government.

"Canadians deserve to know if this was a good deal or not," said Martin. "It certainly was a good deal for Larco. Guaranteed tenants for 25 years — it's like a real estate dream scenario."

Recently the Minister of Finance has been publicly musing about the government selling off more government properties. No clear business case has ever been put forward by the former Minister of Public Works, Michael Fortier, despite repeated requests.

"Canadians need to know more before the sell-off and more of our public building stock," continued Martin. "Was there a good business case for this transaction? Did Canadians get good value for money? Was it sound economics or just conservative ideology? During these tough economic times, this government needs to practice financial discipline, not recklessness."

Links and sources
  Privatizing federal buildings a —sweet deal— for new owners , Public Values, September 6 2007

Posted: November 27, 2008

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