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London Olympic athletes’ village having its own meltdown

October 10th, 2008 · 2 Comments

Hey, we’re not the only ones. While people here are wringing their hands over Vancouver’s problems with the Olympic village construction (developer Millennium Developments is facing significant cost overruns and the city, which is legally required to make sure the village is ready on time, is facing some pressure to provide a guarantee for the contingency reserve Millennium is asking for from its lender Fortress Credit Corp.), the same is happening in London as you can read here.

And for those who haven’t read their Globe and Mail yet this morning, here’s my story today with Vancouver city councillors weighing in on what they think of it all.

By the way, an interesting back story to how the news of local problems erupted is the one about the hunt for the city councillor who leaked the details of Millennium’s financial straights to the Globe. I hear there’s a lot of phoning going on to try to find out who it was by some, with certain suggestions being made that all the councillors should be lined up and grilled. Other councillors are phoning around to make it clear that they weren’t involved. The Vision side claims it was Peter Ladner who seemed to confirm to the Globe that there had been an in-camera meeting. The NPA is convinced it was a Vision councillor who strategically spilled the beans.

As a totally disinterested observer, I’d have to say that the whole story seems to benefit Vision the most — and give them an election campaign issue where they can attack the NPA on its traditional strength of fiscal prudence. I’m not saying I know anything. I’m just saying, as any good detective would, look at motive.

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