Tuesday, May 5, 2009

SQ investigating city of Montreal real estate deals

The mayor of Montreal says they will cooperate fully with the SQ now that it's investigating some questionable real estate deals made by the city's housing and development corporation.


"It is effectively troubling and worriesome, " says Quebec Municipal Affairs Minister Nathalie Normandeau, after reading the report by Montreal's auditor general. Those are words the auditor general himself used in describing the real estate transactions: property sold far below market value or without proper authorization, out of 300-million dollars worth of land and buildings.

But Montreal mayor Gerald Tremblay insists officials with the corporation and its board of director made decisions without their knowledge.

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