Ogden - Calgary Alberta TEC Contamination

[toy]

Hello fellow investors... i am looking at buying a property in the Ogden area of Calgary Alberta. I talked with an appraiser today and he told me about a class action lawsuit regarding TEC Contamination in the Ogden area and that I need to be careful buying something in Ogden if it is in the contaminated area... are any of you familiar with this and is this just some lawyers wanting to make a bunch of money or is there a valid issue here with this contamination?

Any input you have on this matter is greatly appreciated!

 

[Bill]

QUOTE (toy @ Aug 4 2010, 03:46 PM) Hello fellow investors... i am looking at buying a property in the Ogden area of Calgary Alberta. I talked with an appraiser today and he told me about a class action lawsuit regarding TEC Contamination in the Ogden area and that I need to be careful buying something in Ogden if it is in the contaminated area... are any of you familiar with this and is this just some lawyers wanting to make a bunch of money or is there a valid issue here with this contamination?

Any input you have on this matter is greatly appreciated!
It has to do with the old CP Rail yards in the area, CP has stated they will deal with any issues that come up, but it still makes it tough getting a mortgage on a property if it falls in the affected area. I cannot recall the exact area, but it is North of 76th and I believe East of 20th, cannot recall how far North though, so if you are out of that zone it shouldn`t affect you... as much.

 

[jasonheisler]

We own a property in Ogden area and it is in the contaminated part. Fans have been installed by CP rail to help rid of the gases or such from the contamination. On a good note, CP paid us $4000 for them using our power for their fans. We haven`t had an issue to date and so far the property has done really well for us. As long as you do your dilligence everything should be good.