Everybody happy with Russian, Chinese or North Korean oligarchs controlling +1,300 acres of Springwater township farmland?

Once the Midhurst Secondary Plan is rubber-stamped by the OMB, the land can be sold to anyone.

This is what “having the option” means:

the farmers and others who have “optioned” the sale of their land have lost control of their land to Consortium #1. They’ve lost control: kind of having unprotected relations with someone with a promiscuous past. Risky business.

Consortium #1 is 100% legally free to re-sell, lease, severe, add-to, whatever that real estate to any national or international land banking concern. All of it to U.S.-based LLC #2, who sells 1/3 to North Korean#3, the Russians adding 400 acres more, and so on and so on.

This is modern business; the same type as practiced in Russia, China or North Korea. Nothing wrong with it as long as the political structure can control the negative externalities. Remember the best profits have always come from tapping into haplessly-protected government tax bases.

But what happens to the verbal or written promises that someone can’t afford to litigate to enforce made by Consortium #1?

Gone, gone and gone.

Before the OMB Decides: The Springwater council simply changes their Official Plan to preclude the size of development. Let’s pay the cents in possible lawsuits now, instead of the many dollars of forced tax increased in the future. Politicians: The only shame is NOT being sued in these circumstances. If you can’t say yes, quit.

BTW: The township is at only 25% of its allowable debt load so it could finance a legal defence easily. If I were a betting man, I would wager ZERO Statements of Claim will EVER be filed with a 100% renunciation of the sprawl plan.

— ie. Mikhail Khodorkovsky


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