Charbonneau: Joseph Farinacci testifies
The Charbonneau Commission is hearing from a former director of the City of Montreal's real estate transaction service, who says he quit his job in 2007 because the city was selling land he felt at prices far below their value.
Joseph Farinacci, former director of the city of Montreal's real estate transaction service, told the Commission's hearings the city was trying to get the best value for taxpayers when the city sold a huge tract of land for a real estate project in Riviere-des-Prairies back in 2005.
The city had bought the 2 million square foot piece of land for $7.7 million back in the 1980s, but sold it for just $1.5 million.
Farinacci says former executive committee chairman Frank Zampino intervened when he recommended another developer for the Riviere-des-Prairies project.
Farinacci says the city also ignored his recommendations on another controversial land deal -- the scandal-ridden Faubourg Contrecoeur project.