Canada Lands Company
|This article's factual accuracy may be compromised due to out-of-date information. (December 2012)|
|Purpose||disposition of federal owned land and properties|
|Headquarters||1 University Avenue, Toronto|
|Official language||English and French|
|Chief Executive Officer||John McBain|
Canada Lands Company Limited (CLCL) is an arms length, self-financing Crown corporation reporting to Parliament through the Honourable Peter Van Loan, Leader of the Government in the House of Commons. The principal goal of the company's current policy mandate as determined by Cabinet is:
to ensure the commercially oriented, orderly disposition of surplus properties with optimal value to the Canadian taxpayer and the holding of certain properties.
The Company is the parent of three wholly owned, active subsidiaries: Canada Lands Company CLC Limited, Old Port of Montreal Inc., and Parc Downsview Park Inc. The latter two companies report directly to Parliament, rather than through CLCL.
The Company has a real estate portfolio totalling approximately 2,400 acres (953 hectares) in municipalities across Canada. The initial portfolio included many properties formerly controlled by the Canadian National Railway Company (CNR), which was privatized in 1995. This portfolio subsequently increased in size as Canada’s Department of National Defence (DND) began streamlining its inventory of military bases, after the lessening of military tensions that followed the end of the Cold War. CLC purchased several former DND bases that became available following this streamlining, and is currently working to redevelop them. CLC owns, and manages while it attempts to alienate, the CN Tower in Toronto. It is involved in several residential projects, in which it partners with a property developer to build and sell houses to individuals.
John McBain is the President and Chief Executive Officer.
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