Government report could change rules forcing disclosure of grow-op properties in Alberta

Alberta homebuyers could soon have more protection in place to ensure they don't buy former grow-ops without their knowledge.

Last week, the government released a report titled Grow-Op Free Alberta Recommendations concerning proposed legislation to combat the ill effects of marijuana grow operations on Albertans, their homes and
neighbourhoods.

Alberta's economy is expected to grow by 3.5 per cent this year, nearly triple the national average of 1.2 per cent, according to a recent report from BMO Capital Markets Economics and BMO Commercial Banking's Blue Book.

The continued positive outlook is largely due to the province's energy sector and related industries.

"Oil and gas companies still dominate the scene, but we see significant opportunity for firms that support the industry spinoffs," said Mike Darling, BMO's regional vice-president of commercial banking for southern Alberta. "This particularly applies to the engineering sector, where our clients are experiencing considerable growth."

The Alberta Government is moving forward with preliminary design, environmental review and community consultation on water diversion and other projects along the Elbow and Highwood Rivers.

"Our government is committed to ensuring Albertans are protected as much as possible from future flood events while at the same time respecting taxpayers dollars," said Robin Campbell, minister of Environment and Sustainable Resource Development.

While most of the province's real estate markets are expected to post declines in the coming months, increases in Alberta MLS® activity is expected to lead the country.

According to The Canadian Real Estate Association's (CREA) revised resale housing forecast, sales in Alberta are expected to hit 61,150 by the end of 2012, marking a 13.8 per cent increase over the 53,756 sales in 2011.