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Dump threat leads to mortgage denial
go ahead with the purchase, but the property was exactly what they wanted, so they decided to buy. They now fight the dump. Representatives at two local banks said they have not turned down mortgages on the basis of the proposal for a future landfill but they could not speak for other lenders.
C ANDICE V ETTER candice.vetter@eap.on.ca
RU SS ELL | A c o upl e wishing to b uy a h o us e a bo u t 500 met r e s fr om t h e pr o p o s e d Taggar t Mill e r du m p si te hav e had financing t urn e d d o wn b y apprais e rs, t w o o f wh om w o rk e d f o r m aj o r b anks, be caus e o f t h e t hr e a t o f a fu t ur e du m p . Nickolas Lacelle, a filmmaker who recently won Best Director at the Ottawa Digital Film Festival, was raised in the Eadie Road home and wanted to return with his wife, Shinabu Lacelle. His father Luc Lacelle owns the property. Their mortgage broker was upset by the banks’ decisions. “It’s a horrible situation.” Lacelles were disturbed by an assumption the dump would be approved, considering Taggart Miller has not even applied by submitting terms of refer- ence to the Ministry of the Environment. One appraiser was contacted but had not responded by press time. Both the mortgage broker and Lacelles were told that the rejection came from CMHC, how- ever a CMHC spokesperson said they would not reject based on a mere proposal, speculating it may have been the lenders involved who chose to reject it, possibly based on poor marketability. Other Eadie Road homes have been for sale for well over a year, and other properties right on the proposed dump zone perimeter ended up selling either to neighbours banding together or to Taggart Miller. Only one home has sold in the immediate area to an independent third party since November, 2010. Those homeowners first weren’t going to
Photo Candice Vetter
N ick o las and S hina b u Lac e ll e w e r e d e ni e d a mo r t gag e o n an Eadi e R o ad pr o p e r t y and to ld t h e h o us e was in e ligi b l e be caus e o f t h e p o ssi b l e du m p pr o p o s e d b y Taggar t Mill e r in No r t h Russ e ll . N ick was rais e d in t h e Eadi e R o ad h o us e which h e h o p e d to b uy fr om his fa t h e r .
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