Lands is the only authority in Canada that can sell its lands for private use for the price it wants.
But the B.ca.
Lands Corporation (BCLC) said it is considering selling its land for up to $100 million, in a deal it hopes to announce soon.
BCLC CEO and chairman John Bancroft said he expects a sale by the end of next month, with the proceeds to go to the provincial government.
Bancrow said the sale will have to be done in a manner that protects the public interest, while ensuring the land is protected and used for its intended purposes.
“The BCLC is a private entity that has a very strong relationship with the government of British Columbia,” he said in an interview.
“So it’s important for the public to know that, and the public should have access to all the information that they need to make informed decisions.”
BCLC owns more than 1.5 million hectares of land in British Columbia, which is roughly twice as much as the total area of the province.
The company has been trying to sell land since 2005, when the province was seeking $8.7 billion in land transfer taxes to build a highway from Vancouver to Nanaimo.
That same year, BCLC acquired the land around the site of the proposed B. C. Highway 1.9.2 in the Fraser Valley, which was never built.
But Bancrop said in 2018, the BCLC was forced to sell the land because of an environmental assessment.
The assessment included a recommendation that the land should be given back to the BCL Corporation for conservation purposes.
That land was sold for the first time last month for $873 million, and has been listed on the National Register of Historic Places.
But BCLC has not released any detailed information about the land, which includes two buildings, two outbuildings, three houses and a church.
Lands says it has been in discussions with the Bancrotts and the B-C Highway Corporation for more than a year about selling the land for $1 billion, but it’s not clear what that amount would be.
“We’ve been in contact with the BC Highway Corporation and are in the process of working out what the exact amount would need to be in order for us to proceed,” Bancrooft said.
“But that’s not yet a decision that we’ve made.”
The BCLC had hoped to sell its land at a lower price, but the BCBC, which has been negotiating the sale with the province for years, said it would be better for the province to wait to sell until Bancrouf had completed a more detailed assessment of the land before committing to a sale.
“If there is a sale, we’re still going to look at all the alternatives, including selling it in the interim,” Banchroft wrote in an email.
This is a time for thoughtful consideration.” “
This is not a time to rush.
This is a time for thoughtful consideration.”
Bancrau said the BC Land Trust is negotiating with the company for a new land sale agreement, but that it will take some time to hammer out the terms.
“It’s a real challenge.
There’s a lot of people involved, including the BC Lands Corporation, and we’ll see what happens,” he wrote in a recent email.
B-B Highway Corporation president and CEO Chris McNeil said in a statement that the company is “disappointed that BCLC wants to sell a portion of our assets for pennies on the dollar.
We would like BCLC to do the right thing for our future generation.”
The company said in its statement that it is “committed to the development of our new B-H Highway project” and that it’s “expecting an expedited process in order to resolve all the outstanding issues that have arisen.”
The Bancrts said they have asked the BC government to provide them with more information about any possible sale of the BC land, and they are concerned about the impact the sale could have on the BCA’s future operations.
“Our future depends on the continued development of this important and valuable asset, and if we have to sell, our assets will no longer be with us,” B.ancrofts wrote in the statement.
“I’m confident that this sale will create jobs, create economic development and allow us to provide the public with an even better public transportation network.”
B-L Land Trust CEO Chris MacNeil said that the BANCRTS is “very pleased” with the outcome of the BLC’s sale of its land, but said that BC Lands “will have to do everything possible to protect the land and the people who live on it” if it is to continue.