MORE ON COUNCIL'S $100 MILLION GIVE-AWAY
MORE ON COUNCIL'S $100 MiLLION GIVE-AWAY
On April 3, 2006, Council received a report authored by deputy City Manager, Jody Andrews regarding the expressions of interest from developer bids re: Olympic Village.
The successful bidder, Millennium, states clearly that they will not ask the City to assume any of the risk associated with the project.
On page 10 of Mr Andrews report here are the exact words feom the published report, Millennium offers a guaranteed, unconditional price of approximately $193, 000, 000 that does not ask the City to assume any of the marketing or financial risk in this development.
Councillor Peter Ladner who chairs the City of Vancouver finance committee must clear up what is turning out to be quite the boondoggle.
Questions which loom large include the following:
1) Who knew what and when regarding this project going off the rails
2) Why is the City bailing out Millennnium with taxpayer money when it clearly was presented to the public that we would not incur any of the financial risk associated with this bid?
3) Has Millennium donated to the Mayoral campaign of Mr. Ladner?
4) Why is the City Manager who receives a yearly $300,000 salary remaining silent on this exploding issue?
Jamie Lee Hamilton