It seems that our former Lib MP is chuffed about the corporatized FCL's takeover of the assets of True North Renewable Fuels. But Regina's citizens may have some questions.
After all, it was just a month ago that City Council approved a million dollars' worth of public money to fund an engineering study for True North. And one would think the decision-making process would have looked rather different if the proponent was one which could easily have funded the expense itself.
Moreover, if True North's assets are being transferred, the grant money and any results of the study would figure to form part of that - while any ability to repay the City will be in severe doubt.
So let's ask: how did True North's valuation for sales purposes change as a result of the City's grant? How much will FCL benefit from a public grant intended to support a new operator rather than an existing corporate monolith? And how much information - or how little - about the now-concluded sale was communicated to the City when it made its decision?
No comments:
Post a Comment