Vanouver 2010 Olympic Village, $875 Million, Not $100 Million
January 9th, 2009$100 Million to $875 Million, Thanks Millennium.
Well interesting how the story has changed. I know there were reasons that the details could not be released before but it is quite surprising how misleading the info that was available was. Looks like the city could be on the hook for $875Million if Millennium can’t come up with the financing.
Now having said this, I think people forget that the city would own the project if that was the case so they are not really out $875 Million, the project and real estate in general will increase in value again in the future and I am sure the city will be able to recover its costs plus more. Its not like we are giving away $875 Million and getting nothing for it.
Amazing how the politicians leave this out when they are criticizing the decisions of the past and leave the public feeling like we have been ripped off for $875M.
I agree the situation does not seem right and people should be upset, but lets put thing into perspective for a change rather than sensationalizing everything. That’s my 2 cents!
Read more about this Story at The Canadian Press
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