$1.3 billion dollar athletes village, shoddy construction,rushed timeline,paper thin walls,athletes from around the world complained of how poor the quality of this development was.
Betty Krawcyzk raised the alarm about Millennium development company,in fact Betty and my opinion that this was a robbery,theft,a planned con and shell game from the very beginning, the tentacles of this deal travel in many directions.
But lets start at the beginning, we win the bid for the 2010 Olympic games, the roving band of criminals,the IOC descend upon Vancouver, but we didn`t have to look far for persons wanting to fill their pockets with taxpayer`s loot, in fact all we have to do is look to whom the NPA chose to build the athletes village, the non partisan association,the city councillors,the Mayor,the NPA chose Millennium development.... I laugh at that name,nothing could be further from the truth,non partisan..HA HA.
Who are we going to get to build the athletes village? Put out the bids, the city of Vancouver got bids from Wall development, Concord pacific, huge companies,huge companies with money,capital,development companies who had the financial resources to build the athletes village,and these companies have good track record for building large projects in the GVRD for decades, and there was also a bid from a little known company named Millennium development,a company with nothing,no money,no capital,no staff,no financial records with any real standing..
And who is Millennium development, well at the time of the bid?
Well,at the time of the NPA dominated city council, Millennium development had two directors..Sharam and Sharokh Malekyazdi,who hold no board meetings,issue no shares and do not file the required annual financial papers with the Provincial ministry of finance.They are partnered with the Armeco group of companies,Armeco has one director, a lawyer who recently headed the NPA party, that lawyer is no other than Paul Barbeau.
Well isn`t that special, Sullivan,Ladner and and the other NPA councilmen and woman,along with Paul Barbeau give the nod to Millennium development over reputable firms like Concord Pacific and Wall development, and guess what folks, Millennium has ZERO MONEY,NO ASSETS, AND GUESS WHERE MILLENNIUM DEVELOPMENT IS GOING TO GET THEIR MONEY, FROM FORTESS HEDGE FUND AND THE CITY OF VANCOUVER.
AND ISN`T IT A COINCIDENCE THAT INTRAWEST WHO OWNS WHISTLER BLACKCOMB ALSO OWES FORTRESS HEDGE FUND $1.6 BILLION DOLLARS,YEA,A NICE TIDY LITTLE DEAL THAT VANCOUVER NPA TEAM BOUGHT,HOOK,LINE AND SINKERED THE TOWN OF VANCOUVER FOR A LONG LONG TIME!
And how did that deal work out for Vancouver,the Province had to call a week-end session in the Victoria legislature and bring in legislation to allow the Vancouver charter to be changed,that change being.....To allow the city borrow up to $1 billion dollars to pay off the loan sharks known as Fortress,of course Ken Dobell was getting bi-weekly reports on the status of the construction at the athletes village and reporting to the Province and Vanoc, well so much for Dobell keeping us up to date,the same Ken Dobell was in charge at the Vancouver trade and convention center and we know how well that worked out,$450 million dollars over budget,the project going sideways and finally Ken Dobell had to be removed, and who is Ken Dobell,Gordon Campbell`s friend and they shared the premier`s office, yes,friends,the tentacles from the NPA,Gordon Campbell,Ken Dobell,Paul Barbeau,Fortress...These clowns couldn`t run a LEMONADE STAND, it`s my opinion that there are many in this deal who should be held to account,criminal charges and a complete investigation is required!
The fix was in from the very beginning, Paul Barbeau and the entire NPA are answerable as to why they chose this company connected to Paul Barbeau, we are all familiar that the city of Vancouver had to borrow like $700 million dollars to pay off the loan sharks at Fortress, the city also had to put in place their own accountants and management team to oversee the project, because the snow job was working, the athletes village was spiraling over budget,hundreds of millions of dollars seemed to just vanish, what did Sam Sullivan,Peter Ladner and the NPA dominated city council have to say, not much, they had no answers, damage control, this boondoggle was started under the NPA, but it ended up being dumped in Gregor Robertson`s lap when the people of Vancouver threw out the NPA lock,stock and barrel, but throwing those losers out of office couldn`t stop the athletes village boondoggle that had taken place,.....
This was big news at the time, also at the time when the city of Vancouver was potentially getting ripped for hundreds of millions of dollars there were questions,lots of questions, lets go ask Estelle Lo, the city of Vancouver Chief Financial officer, well guess what folks, the NPA forced Estelle Lo out, forced her to quit or be fired, why would the NPA do that? That my friends is the $700 million dollar question, and guess what......
Estele Lo warned against the Millennium deal, Estele Lo was adamant that if anything went wrong the city of Vancouver would be on the hook, Estelle Lo was upset that the way the deal was structured,she warned against it, the alarm bells were ringing in Estelle Lo`s head about this deal, but the fix was in, the entire NPA council have questions to answer, and of course they didn`t want Estelle Lo to talk, so when they forced her out,for Estelle Lo to get her compensation package she had to sign a "Keep your mouth shut clause"!(read about Estell Lo being forced out here,Gary Mason of the Globe and Mail was all over the story,here is a quick read by the Tyee)http://thetyee.ca/Blogs/TheHook/Olympics2010/2008/11/11/GlobeOnOlympicVillage/
And where has Paul Barbeau slithered off too? Who knows, the money for the boondoggle is gone,the city of Vancouver is taking a huge bath on this deal, the Vancouver taxpayers will be paying off the athletes village for decades,possibly hundreds of millions of dollars.
Back to the Athletes village, the city of Vancouver had to turn the buildings over to Vanoc in the fall before the 2010 Olympic games or face a huge financial penalty, a tight timeline,rushed construction, shoddy work, the city is already out so much money,astronomical amounts of money,they don`t want to lose more money,there is no turning back.
The NPA run city of Vancouver,their decisions, their boondoggle,the BS has Vancouverites on the verge of losing hundreds of millions of dollars, they forced out the top accountant who was ringing the alarm bell, Peter Ladner,Sam Sullivan in my opinion all have dirt on their hands,personally I think Gregor Robertson did his best to fix a terrible situation caused by the NPA......
The NPA has cost the city of Vancouver potentially hundreds of millions of dollars in what I would call a planned deliberate,calculated fraud, a deal the chief city financial officer warned about all the risk being assigned to the city, so the corrupt bunch (IMO) forced her resignation, the hypocrisy is unreal!
The NPA and Fortress hedge fund have by crook stolen the cows,the farm,the deed to the land.
The below story is from Betty Krawcyzk, she was the first to write about it!
OH, FOR THE LOVE OF THE OLYMPICS!Love? Oh, no. It’s actually money. For everybody but us Vancouverites who have to shell out for this huge province wide construction party masquerading as a civic celebration (oh, all right, everybody in the province pays). We’re supposed to do it for love. Do what exactly? Well, let’s just consider the Athlete’s Village.Okay, so a lot of figures are boring. Even to me. So I’ll keep it simple. There’s a corporation named Millennium Development Corp. They got the nod to build the Athletes’ Village on Southeast False Creek for the Olympics which will include 1100 condos of which 250 will belong to the City after the games. For this privilege Millennium will pay us, the city, 193 million, of which 30 million will be a down payment. These condos are not for the working poor. They will go for between 500,000 and 6 million all of which they plan to pre sell. Millennium will also receive over 82 million for building the units and we will do the site fixing at another 153 million. There are two directors (Shahram and Sharokh Malekyazdi) who hold no board meetings, issue no shares and do not file the required annual financial paper with the provincial Ministry of Finance. They are partnered with Armeco Group of Companies. Armeco currently has only one director, a lawyer who recently headed the Vancouver NPA party (Paul Barbeau). But where can these corporations, wealthy though they are, get such huge amounts of money? Well, there are two lenders… The Fortress Credit Corporation and guess who? Well, bust my britches! It’s us! The City of Vancouver! Which means that we, us, yes us, the tax payers of Vancouver will be lending a hunk, or even most (maybe all?) of the start up money to Millennium who is supposed to pay us, for God’s sake. But somehow they have it fixed so that we pay them for borrowing money from us so they can make billions. But if we, Vancouver, have this kind of money to lend out for the already super rich people so they don’t have to use their own money why don’t we do something about the homeless? Or affordable housing? No money for that? Or money in that? Well, back to Millennium and Armeco. These two, along with Gordon Campbell simply take my breath away. Their ability to pull off such a gigantic public robbery in secret takes stealth and cunning the likes of which makes Lord Black look rather amateurish. I think Gordon Campbell, VANOC, Millennium and Fortress along with Paul Barbeau are guilty of conspiracy to defraud the public. I’ll be pouring over my law books. This has got to be against the law. Betty Krawczyk .
Nothing but Politics as usual friends, just like the Republicans in the USA,Ronald Reagen,George Bush Senior,George Bush Junior,.....Especially the last,George W Bush, he lied to the world and invaded Iraq,a illegitimate war, he allowed Wall Sreet to destroy world economies,tax cuts to the rich, ruined the economy, the absolute worst president in the history of the USA, him and Dick Cheney, criminals,they are nothing but criminals, so they dump a huge mess in Barack Obama`s lap, and the FOX News,the haters, the spinners trying to blame Obama for the Bush created disaster.
The same thing with Gregor Robertson, personally I think Gregor is a little flaky, but the mess that Sullivan,Ladner and the NPA dumped in his lap is shocking, so when I hear an ex-journalist crying wolf over nothing while totally ignoring the largest and most expensive possible ponzi scheme in Vancouver history is disingenuous at best.The athletes village deal that was set up,organized,arranged,by the NPA, rejected by the Chief Financial Officer Estelle Lo,the NPA forced Estelle Lo out ,the cost to people of Vancouver will be a kings ransom for a very very long time.Glad I don`t live there!
Nothing but Politics friends, the Gordon Campbell junior edition(The NPA)..Are beating the drum,they are also beating a dead horse!
The Straight Goods
Cheers-Eyes Wide Open