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Latest snapshot of Olympic village finances

April 19th, 2009 · 4 Comments

Last year, the city’s financial statements came out and no one paid attention to the paragraph buried deep inside saying that the city had provided a loan guarantee of $190 million for the private developers of the Olympic village. Even councillors didn’t notice it.

It’s quite a different picture this year, where the statements detail many (though not all) parts of the city’s commitments to the Olympic village and the Southeast False Creek development in general. Much of what’s in the statements has been extensively covered in the media by now. But the statement does provide an update on the mounting city investment in the area. You can read my story here.

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  • Not running for mayor

    Frances I’m sure read the whole document just like I did, my favourite part is how the managers after all that’s happened still expect the sales to cover all loans and the original purchase price of the land, resulting in no loss to the city. Gee if that’s the case then why all the hoopla? I can’t imagine why…

  • A. G. Tsakumis

    Great point by ‘not running for mayor’ and SUPERB column by Bula…

  • LP

    NRFM,

    Your last sentence was what I was trying to say from my very first comment on one of Francis’ OV posts last year.

    For everyone else,

    Gregor has been more political than anyone gives the guy credit for. Enough already, lets see the man for who and what he is.

    No more apologies please, he is officially off the big boy pottie.

  • SV

    What,the mayor’s political? Shocking.