Saturday, October 1, 2011

Properties reducing in value

Ontario wind power bringing down property values

By John Nicol and Dave Seglins, CBC News.

Here is an excerpt about the Power Company buying up properties and then selling them on at a loss:

"Canadian Hydro Developers bought out four different owners for $500,000, $350,000, $305,000 and $302,670. The company then resold each property, respectively, for $288,400, $175,000, $278,000 and $215,000.

In total, Canadian Hydro absorbed just over half a million dollars in losses on those four properties.

The new buyers were required to sign agreements acknowledging that the wind turbine facilities may affect the buyer’s “living environment” and that the power company will not be responsible for or liable from any of the buyer’s “complaints, claims, demands, suits, actions or causes of action of every kind known or unknown which may arise directly or indirectly from the Transferee’s wind turbine facilities.”"

We found the link to this article on

No comments: