OfSwissCheeseVille
Well, whaddya know.
It turns out that Millenium, the developer that the City of Vancouver is getting ready to hand $100 million dollars to, is also in trouble in Nanaimo.
Andrew Macleod of The Tyee has that story:
Millennium Development is under contract to build a 170-room hotel in Nanaimo as part of a complex public-private partnership that includes a conference centre, two arenas and a museum. Nanaimo city manager Jerry Berry said the company has “missed a variety” of starting deadlines for the hotel.
“It would have been our aspiration the hotel was well under construction [by now] and nearing completion,” said Berry. Representatives of the company were at a design panel meeting last night, he said, and still say the hotel will be finished by the 2010 deadline set in the contract with the city. “That's getting to be seen to be difficult if they don't start soon.”
After the November 15 municipal election, he said, the new city council will have to decide whether or not to find Millennium in default on its contract.......
Sure sounds like a group I would want my City Councillors to make a secret deal with so that they could fork over the cash to help them keep building Condos instead of rebuilding six or eight Trout Lake Community Centers.
How about you?
_____
And don't forget, Millenium has been financed in large part by a very fine group called Fortress Investments which itself very nearly went belly-up recently in Whistler when they over-extended themselves after buying everybody's favorite ski hill ponzifier Intrawest. So, again, I ask you.....is this a group we want to be giving secret eight figure deals to, 'in camera' or otherwise?
.
No comments:
Post a Comment