It only cost a dollar to acquire, but a parcel of land turned over to the District of Squamish next to the Nexen lands will cost at least $1 million to clean up.
But once it's clean, the land will be worth an estimated $4 million.
A report prepared on the state of the lands that include the lot, commonly referred to as the GBA site for its last industrial tenant, indicates that there is 10,000 tonnes of special waste soil on the site.
The property was owned by B.C. Rail and a portion was sold to Squamish for one dollar with the legal handover of the land taking place this fall.
A report from the consulting firm Sperling Hansen Associates (SHA) indicates that remediation at the site will cost $1,050,000 in a best-case scenario. The estimated worst-case scenario puts the clean up cost at $1.9 million or more.
SHA based the estimated costs on its review of studies done previously on the lands in the Galbraith Avenue area and a site visit in July.SHA reports that the contaminants on the lands that have to be deal with include bunker C fuel contaminated soil, diesel contaminated soil, chromium and copper contamination in the groundwater and buried wood waste. The report also indicates that the site has buried tanks, piping, wire cable metals and "other refuse may exist on site". SHA warns about a mercury plume in contaminated groundwater located near the site.
"There is potential for the mercury groundwater plume to further impact the tidal influenced zone of Cattermole Inlet," the report says. "Contamination in Cattermole Inlet has the potential to impact water and soils of the site."
In the conclusions of the SHA report the author indicates that the site was used for many industrial purposes over the long term.
"This industrial activity has resulted in wide ranging site contamination to both soil and groundwater," SHA reports.
The findings in the SHA report are on an examination of reports previously prepared on the 2.02-hectare (five-acre) site bordered by Cattermole Inlet to the west, the former Nexen chemical plant site to the south and the unconstructed Westminster Street to the north.
In a separate report to Squamish Council from the District of Squamish's chief administrative officer, Kim Anema, it is pointed out that SHA found that the most significant sources of the contamination are no longer adding to the pollution. While the pollution problem is not growing, the contaminated areas must be dealt with or managed in the future.
Royal LePage Commercial Inc. was asked to estimate the value of the site and the company concluded that it is valued at approximately $4 million if the site is clean to a commercial or residential standard.
"That site will come under the control of the oceanfront corporation," said mayor Ian Sutherland. "The reason we took the site is because if you took the lowest possible value and the highest possible clean up cost you are still ahead."
The site is key to the development of the former Nexen lands because it is a gateway property.
"The agreement from the beginning said that if GBA lands cleanup exceeds value we would not take the lands," Sutherland said.
