Residents in the Sullivan/Panorama area of Surrey were all abuzz about the new sign from Colliers International listing a government property once earmarked for an expansion of Surrey Memorial Hospital.
The property in question is being listed as a:
“15.0 acre large-scale development site in the rapidly growing city of Surrey
Early in 2013, Mike De Jong announced the BC government was going to sell off ‘excess properties’ to help balance the budget. However, critics panned the idea immediately as both shortsighted and disingenuous, and left many accountants ” scratching their heads” as to how any profit from the property sales could be considered revenue to balance the budget:
“One could ask the core question of whether these asset sales should be considered revenues at all,” said Divestor Investment Corp. principal Sacha Peter.
“If I bought a property for $400,000 and deemed it surplus and sold it for $420,000 the next year, does that constitute $420,000 in revenue? No. It is a $20,000 gain because I held the property at $400,000 on my books when I bought the property.” ~ http://www.biv.com/article/20130305/BIV0109/303059948/-1/BIV/bc-liberal-government-assailed-over-its-plans-to-use-real-estate
Many critics have also called the sale of this particular property, extremely shortsighted considering the massive growth in the area – future demands of the population in South Surrey/Cloverdale/Panorama will require more health care facilities, along with new schools. The Panorama property is the last large tract of land in the area suitable for either educational or health care facilities. The sale of it will impact the area adversely in the future.
Currently, the property is vacant green space.
BC Liberals. ‘Balancing’ the budget, one property sale at a time…