NPA mayoral candidate Kirk LaPointe says the Vision Vancouver-dominated city council has dropped the ball on negotiating for the Arbutus Corridor.
“The city obviously bluffed CP into somehow believing it was negotiating in good faith and offered it a low-ball offer, which not surprisingly has been rejected,” LaPointe told Business in Vancouver, “and CP obviously thinks there’s no basis for a deal.”
On August 14 Canadian Pacific Rail (TSX:CP), which owns the right of way along the 20-hectare rail corridor, began tearing out community gardens that had been planted over the past decade. The company has not run trains along the line since 2001.
Mayor Gregor Robertson has said the city had recently made “a fair offer” for the lands. Vancouver media outlets have reported that the city offered $20 million, but that CP is looking for $100 million. The land is currently zoned as a transportation corridor.
The City of Vancouver and CP have been in talks about the line for decades without being able to come to an agreement. However, if elected, LaPointe thinks he would be able to get the job done.
“The first thing in order is simply to get a deal, get the valuation set and agreed upon, figure out what the component elements are in that: Is it a big cheque, is it a tax receipt, is it land in return?” LaPointe said.
“What is it that CP is looking for, and [what is the city] prepared to provide?”
Neither Robertson nor any Vision Vancouver councillors were available to comment on this story.
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