This story has been brewing for weeks. Okay, years. Here it is, the start anyway, of the city’s news release. More to come.
The City of Vancouver and Millennium agree to receiver
The City of Vancouver and Millennium Southeast False Creek Properties, the company that owns the Millennium Water development, have today negotiated an agreement that will see Ernst & Young Inc. appointed as the receiver for the company. Ernst & Young Inc. will assume control of Millennium Southeast False Creek Properties and the Millennium Water development.
20 responses so far ↓
1 Target Direct Marketing Lists Broker // Nov 17, 2010 at 4:38 pm
How sad is this?? Sign of the times maybe? Too much too fast maybe? What’s it going to take to stop the bleeding??
2 evilfred // Nov 17, 2010 at 5:11 pm
But everybody got those really awesome mittens so I think it’s square.
3 Gerry McGuire // Nov 17, 2010 at 5:15 pm
Come next November the taxpayers, in rain-barrel suspenders, will be rushing to the polls in their wheelbarrows (have you seen the price of a decent bicycle lately?) to vote for anyone promising to end homelessness. Maybe Vision can get elected again…because by then half the residences in Vancouver will be in tax foreclosure.
http://www.youtube.com/watch?v=CWFaDfG5vf8
4 Gerry McGuire // Nov 17, 2010 at 5:16 pm
Fred,
That IS evil…
5 jesse // Nov 17, 2010 at 5:49 pm
http://www.nytimes.com/2010/01/31/sports/olympics/31sullivan.html?_r=1&pagewanted=all
“Not one taxpayer has paid one dollar for the Olympic village … And they never will.”
Sam Sullivan, Jan 10, 2010.
One word: FAIL
6 Tessa // Nov 17, 2010 at 5:54 pm
This just keeps getting better and better. Aren’t we all glad we built this subsidized housing for millionaires? Because I’m sure they needed it more than any other group in this city, so it must be worth the unpaid bills and credit rating downgrading. Oh, the things the city is willing to do for those truly in need…
7 larry // Nov 17, 2010 at 6:45 pm
Yes, Tessa. We have seen that over and over again, recently here and south of the border in the form of billionaire stock promoters and incompetent auto manufacturers feeding at the public trough. No doubt while complaining at The Club about welfare mothers or overpaid civil servants or having to pay minimum wage or benefits to the Latina nanny. Collectively we sure seem to have our priorities screwed up.
8 Not Running For Mayor // Nov 17, 2010 at 6:55 pm
Rumour has it that more then one lawfirm has approached the Maleks about pursuing legal action against the city. Till recently they have stated that they have no interest in taking that route. I wonder if that will change now. Seems like at least a few people believe there is a case there. Things are about to get a bit more interesting.
9 diderot too // Nov 17, 2010 at 7:10 pm
One has to wonder how much of this impasse has been caused by the city manager’s inability to negotiate or communicate with any respect for the other party. The Malek’s continous references to “family pride and principles” seems code for “we are being treated with disrespect”. This is not to relieve them of any culpability, but merely to say that once the magnitude of the problem was known by this council, the poorest possible choice of representative for the City seems to have been this city manager who acts as if she is still the martinet surgeon barking orders in the operating theatre and brooking no opposing opinions or voices.
Faulty as all of those who went before were, at the point of knowing the financial situation, this council should have assigned someone with proven strategic thinking skills, finesse, and a history of successful negotiating. Someone who abruptly resigned as Deputy Minister of Health position in a snit was not a likely candidate.
10 The Fourth Horseman // Nov 17, 2010 at 7:10 pm
WHAT A GREAT DAY FOR LOCAL AND PROVINCIAL POLITICS!
Pass the popcorn, please…
I am starting a new political party, called “The Truth and Only the Truth” party.
Who’s with me?
11 diderot too // Nov 17, 2010 at 7:18 pm
Good one 4th Horseman. An old friend of mine used to threaten to establish an advocacy organization called the Who Do You Trust.
12 Gassy Jack's Ghost // Nov 17, 2010 at 7:58 pm
Yes, NFRM, I’m sure every money-grubbing legal firm in town is falling all over themselves to get the Maleks to sue the City, regardless of the legal merits. You can be damn sure they’d get fat and filthy rich dragging this thing out for years, costing taxpayers millions in legal fees.
Maybe they should hire Bill Bernardino?
13 Mo // Nov 17, 2010 at 8:06 pm
The Maleks have a legal leg to stand on? How about if first the citizens put claim to their assets.
14 landlord // Nov 17, 2010 at 9:11 pm
First they refuse to sell the land to the developer, forcing them to go to loan sharks for the financing, then after leaking in camera minutes in a cynical campaign ploy, Vision fired everyone who had knowledge and experience with this file.
Trying to pin this fiasco on the Maleks is the lowest kind of gutter politics, with a whiff of racism and xenophobia thrown in for good measure. Vision is beneath contempt as well as incompetent.
Gordon Campbell knew exactly what he was doing when he gave these bozos the power to borrow $750 million.
15 spartikus // Nov 17, 2010 at 9:16 pm
with a whiff of racism and xenophobia
Uhhh……huh?
Can we stick to the facts at hand in our criticisms.
16 Delia // Nov 17, 2010 at 9:50 pm
Great! Kind of difficult to sell these given the economic climate and the fact that they were designed for athlete accomodation for the Olympics–not the market. Hopefully, with revised prices, they’ll sell in the new year. I’m sure they will. Look for some good deals in a great emerging neighbourhood.
17 jesse // Nov 17, 2010 at 9:53 pm
Well the NPA is trying to make hay with this one:
“Every time [Robertson] opened his mouth he put a black cloud over the village,” Anton said.”How much value has been lost on the property because of that is uncountable.”
We all have different ideas of what constitutes a white lie, don’t we.
18 Morry // Nov 18, 2010 at 9:11 am
Anton is blowing smoke. She has lost the last bit of credibility in my eyes. gawd she is big pain!
19 Morry // Nov 18, 2010 at 9:12 am
P.S. Frances why don’t you follow up with the former mayor Campbell the Larry to see if he still happy with his two reported condos that he said he purchased.
20 Dan Cooper // Nov 18, 2010 at 9:15 am
@M. Horseman:
Actuall, I just paid up my membership in the The Rent is Too Damn High Party.
http://www.guardian.co.uk/commentisfree/cifamerica/2010/oct/27/jimmy-mcmillan-the-rent-is-too-damn-high
Leave a Comment