The National Capital Commission says the City of Ottawa's offer to buy the Moffatt Farm for $400,000 is simply not reasonable.

Spokesperson Lori Peters says the property is valued at between $10 million and $12 million. She also says no offer will be considered until the Ontario Municipal Board holds a hearing on the future of the Moffatt Farm.

The city earlier rejected the NCC's attempt to rezone the land for development, saying the site should remain green space. The NCC is appealing that rezoning decision to the OMB.