Thursday, March 30, 2017

This Day In Clarkland...Big Rich's Billion Dollar Hangover.


The Auditor General has spoken on Rich Coleman's fantasy social housing program.

And what it is going to cost you, me and our children, if not their children.

Jen St Denis of MetroNews was one of the first out of the gate with the kicker.

Here is her lede:

B.C.’s Auditor General found that the provincial government has sold off social housing buildings to non-profit organizations without demonstrating that those sales will result in better outcomes for social housing and those who live in that housing.

Carol Bellringer examined the asset sale program in a report released Thursday. In 2013, the B.C. government began the Non-Profit Asset Transfer Program, which was supposed to generate $300 million that the government would then re-invest into social housing and rent assistance programs.

But, Bellringer notes, under the program the government is still on the hook for $30 million a year in mortgage payments over the next 35 years...

Sound like, perhaps,  Ms. St. Denis was being a touch hyperbolic?

Well, how about we go directly to the AG's press release:

Of course, especially in the pay-to-play world that is Clarkland, the next question to ask is...

Who benefits?

More on the no-biddish-type question, above, later. 



Anonymous said...

Not the public.. just the private benefits.?
A pixy dust premier at it again?

RossK said...




e.a.f. said...

this is easier than laundering money. this is how it works. A non-profit is created. Its not hard, just complete the paper work and get yourself a board of directors. (check B.C. Lieberals guest and membership list) Then the buy the building and wait 10 years and say the buildings are falling down because of course no maintenance will have been done during these 10 years. They will then dissolve the non profit and sell off the assets. In the final years they will not fill vacancies because the units are being "renovated".

Just check where the buildings which were sold are located. You'll find out that in many of the cases waiting 10 years to make a few hundred million isn't a bad investment.

Selling government housing makes no sense at all. In the Netherlands the government owns 40% of all housing stock. Similar figures in other countries. it is what keeps housing affordable for everyone and provides a mix of people living in these homes.

This is how the B.C. Lieberals are transferring government assets in to the profolios of their friends. This is just like the stupid/smart meter contract which went to a guy who was not unfamiliar with el gordo. contract worth about a billion. Then of course there is the run of the river contract-IPPs which is making all sorts of people rich and bankrupting B.C. Hydro.

Just follow the money and behind it I bet you'll find some nice old B.C. Lieberals here and abroad. Some foreign "investors" are willing to wait for their money. In 10 years all those living in these units will be tossed out on their asses. Actually this is the first I've heard of the B.C. Lieberals selling off government housing.

What our over weight cabinet minister has done is set up a system where they are privitizing social housing. Right now he is handing out rent subsidies if you qualify and if you're working. if you're on welfare or disability, tough. you don't qualify. the cut off levels are set so low most people who need housing don't qualify. Those who own the buildings get nice cheques each month from the government, so my question is: WHO OWNS THOSE BUILDINGS AND HOW MUCH DID THEY DONATE TO THE B.C. LIEBERALS.

next fun thing to watch for is assisted living corporations start getting out of the business and "re developing" high rise condos. it makes sense from a financial perspective. OVER ON Vancouver Island one company has purchased a number of them, including "community based" ones such as the one in Campbell River a few years ago. they fire the staff, put out contracts for companies to provide services and staff have a new lower salary with no benefits. When you look at the amount of land they acquired, its high rise time. of course a lot of seniors won't have any place to live but that won't be el gordo or Christy's problem. they had all those soirees and no one really knows what went on there. During el gordo's reign a lot of real community based seniors housing was being starved of funding while new for profit seniors housing was being built. then the government paid them to take care of the seniors. Nice profit when your "friends" are signing the cheques.

in the end all that can be said is the majority of people either voted for the B.C. Lieberals or failed to vote. Now it may come to bite them in the .........and they could wind up living in a tent.

Anonymous said...

What tent that was sold off also.

North Van's Grumps said...


'non-profit is created ....'

Non-profits are not permitted to donate to the BC Liberals et al.

RossK said...


But they do anyway...


North Van's Grumps said...

The BC Legislature is no longer in session so why is the Minister of LNG giving a talk at a BC Liberal Fund Raiser - Meet the Candiate

April 5 Featured Event: Natual Gas and LNG update from the Honourable Rich Coleman and meet with BC Liberal Candidatye Dan Davies (PCN)

Partisan politics?

Why isn't Rich showing up at a Green Party or BC NDP Party Event?

e.a.f. said...

NVG, you are quite right but prior to the "non profit" being created, the individuals were profit makers. then they donated to the B.C. Lieberals and then they created the non profit to buy the buildings.

Canada is one of the 4 best places in the world to launder money via real estate. G.B., U.S.A., Canada, forgot the 4th country. G.B. has made it more difficult because every home purchased must declare the owners. Of course they can always find some one to front it, but its a better start than in Canada. the federal government needs to amend our incorporation laws so that foreign entities don't use Canada to set up companies to launder money through.