VANCOUVER (NEWS1130) – One day after the City of Vancouver proudly showed off a new rooftop greenhouse in the downtown, an NPA councillor is raising several questions.

Councillor George Affleck says he didn’t know much about Alterrus Systems, so he turned to Google, and found out that the company has an accumulated deficit of $52 million.

“Here we have a company that is a penny stock company which is in serious debt, and is being given a sweetheart deal by the city,” he insists, referring to the $2,400 per month it will be paying for the city-owned spot.

“I wonder why the city would get into an agreement with this company.”

Furthermore he says the city didn’t put the project out to public tender and feels the city isn’t being transparent about the deal.

Alterrus promises to grow tens of thousands of kilos of veggies and herbs on the tenth floor of a parkade located on Richards Street.

According to the company’s financial statements, it will incur further losses. That same statement goes on to say “These factors cast substantial doubt as to the Company’s ability to continue as a going concern.”