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|I Am Skooter|
So here's us, on the raggedy edge.
The funny thing about the current situation with Storyeum in Vancouver (an excerpt from the article is below) is that the city is now saying the business is “not viable.”
Vancouver seeks to shut down Gastown tourist attraction
Tuesday, Sep 26, 2006
(CBC) — The City of Vancouver revealed in court Tuesday it wants a downtown tourist attraction that owes taxpayers $5 million shut down.
The owners of Storyeum, an entertainment complex located five storeys beneath the cobbled streets of Gastown, are in B.C. Supreme Court asking for an extension of protection from their creditors.
The company was granted a brief period of protection last month and Storyeum’s owners want to extend that to Oct. 28.
Storyeum owes the city nearly $5 million in back rent, loans and construction costs, in addition to $1 million the city says it has already written off.
When it opened, Storyeum boasted that it was a unique experience - a combination of live theatre and a museum where history came to life.
But a lawyer for the City of Vancouver said that Storyeum isn’t a viable business.
Of course, four years ago when the city was evicting long standing tenants from the Gastown neighbourhood to fast track the construction of Storyeum they seemed to consider it a viable business. The NPA bent over backwards to get this thing opened.
This is why politicians should stay out of business decisions.