Council Dumps $15 Million In Real Estate For $650,000 – Backroom Buddy Deal For Only $6,310/lot

According to the agenda package council has sold off the 103 lots at Hutton Heights for $650,000, that works out to $6,310/each. This was not listed on MLS, nor was the public consulted. Council refused to answer questions about the back room deal at the last council meeting, and even cut the audio feed to keep things quiet.

NOTE: Wingham allegedly spent over $1,000,000 for the water line they ran out there last summer. Taxpayers were forced to pay $350,000 (1,000,000 – 650,000) to “divest” themselves of 103 building lots.  Simply put, the council spent $1,000,00 to sell a property for $650,000. 

Estimates for the 103 lots range from $10,000,000 – $15,000,000. That is based on the discount price of $100,000 – $150,000/lot.

Next council meeting is 06Mar, 6pm at Wingham Town Hall.

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