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| I Am Skooter | |
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So here's us, on the raggedy edge.
Once there was a haunted loop / of your deep fallen tears / a forehead resting / on a record shelf — A.C. Newman, There are Maybe 10 or 12 |
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Ah, the Olympics. The sporting and athletic aspects of them always seem to come off so smoothly, and the Vancouver Olympic Organizing Committee assured us that the financial aspects of of Vancouver’s games were going as planned.
It looks like, perhaps, this was true from only the most selfish of perspectives: stricly speaking it’s not VANOC’s fault that the private developer behind the Olympic Village appears to have failed, but it certainly doesn’t put the Olympics in a good light. John Furlong can deny responsibility if he wants too, but a the moment Vancouver tax payers are on the hook for a whole lot of unplanned money. With a year to go, the potential for more is high.
Olympic Village may cost Vancouver taxpayers $875M: Mayor
Last Updated: Friday, January 9, 2009, CBC NewsThe Southeast False Creek development site comprises 32 hectares of land, seven of which will be temporarily transformed into the Olympic Village during the Games. (CBC)
Vancouver taxpayers could be on the hook for as much as $875 million to complete the Olympic Athletes Village unless city council can reopen a loan given to the developer or find new financing.The city has been forking out money to keep construction going since New York-based hedge fund Fortress Investment Group stopped advancing funds in September to Millennium Development Corp., Mayor Gregor Robertson said Friday.
Posted by skooter at 4:49 PM
This entry is filed under Sports, Vancouver.
This entry is tagged: 2010, Olympics, Vancouver Olympics