Toward the end of the strangest day yet in the most contested mayoral campaign in B.C. history, Non-Partisan Association candidate Peter Ladner angrily defended the city’s secrecy around a reported $100-million loan to the developer of the 2010 Olympic Village at Southeast False Creek.
“If necessary, I am prepared to lose this election to save this project and protect this city’s taxpayers. It is not appropriate to go public with this thing now,” Ladner told a gathering of press and supporters at his party’s headquarters.
Coun. Ladner, who chairs Vancouver’s finance committee, sought to shift attention away from the city’s ongoing effort to conceal a widely reported deal to bail out the developer of the $1.1 billion condo project, and toward opponent Gregor Robertson’s calls to disclose the deal.
“I have spent pretty well all of today doing damage control on this leak from a closed meeting that was revealed in some of the papers earlier this week. Every step I go, Vision Vancouver is piling on to this project and adding fuel to the flames,” Ladner said on Friday evening.
“Gregor, this has got to stop,” Lander continued.
“People who behave this way, Gregor, are not equipped to run our city. This is not the appropriate way to look after the taxpayers, and conduct high-level, high-pressure, high-stakes negotiations. We cannot succumb to politics on this one.”
‘I’m not saying what’s going on’
Ladner’s plea came in the wake of a day-long feeding frenzy among local news media. Every Vancouver newspaper published a front-page story, and each of the city’s talk radio and television news programs commented on the allegations throughout the day. The heavy coverage was particularly remarkable given that the alleged deal has yet to be confirmed by any named source or disclosed document.
Mayor Sam Sullivan declined to discuss either the alleged deal (an “in-camera matter”) or reports that the city’s top financial officer had resigned (a “personnel matter”) on Friday. Though the Olympic Village deal was renegotiated under his watch, the outgoing mayor had by Friday been relegated to the role of a by-stander. (When asked about his post-mayoral plans, Sullivan grinned and puckishly told The Tyee, “Well, as you know, I can’t talk about that. It’s a personnel matter.”)
Ladner, who all but abandoned the campaign trail after a report of the alleged deal surfaced on Thursday, resumed talking to reporters on Friday. At a noon scrum, he defended the city’s silence and denied allegations that finance director Estelle Lo had resigned.
“This is a very complicated deal, and is not something that should be discussed in public, or can be understood with one leaked piece of information,” Ladner said.
He replied testily to one reporter’s question about the public’s right to know of a $100-million dollar deal.
“You’re talking about $100 million dollars,” Ladner said. “I’m not saying what’s going on.”
Ladner chose his words carefully in response to a question about Estelle Lo, the city’s longtime Chief Financial Officer.
“Estelle Lo is on the city payroll now,” he said. “Right now she is in Hong Kong on a two-week holiday... She is coming back to the city on November 16. After that, it’s a personnel matter. I’m not discussing personnel maters in public,” he said.
“She has never spoken to me, she has never spoken to anybody I know about this project or any concerns she has about this project,” Ladner added.
‘Taxpayers are entitled to be informed’
For the second day in a row, Vision mayoral candidate Gregor Robertson pressed Ladner to disclose information about the Olympic Villave deal.
“At this point, with the amount of information that has been made public, there is no good reason why Peter Ladner should refuse to answer,” Robertson told an afternoon press conference.
“Taxpayers are entitled to be informed, as they are the ones who are on the hook,” he said.
Robertson revealed that on Oct. 14 – the day of the in-camera meeting at which city council reportedly approved the alleged bail-out deal – the NPA rejected a motion by Vision council members to have all decisions on spending public money on the Olympic Village be made in public.
Vision also took its campaign to disclose the bail-out into Friday night’s council meeting, where Coun. Raymond Louie attempted to introduce a motion calling on council to reconsider the loan.
As Louie began speaking, Mayor Sullivan ruled the motion out of order. Sullivan then called on the city clerk to rule on his ruling. The clerk suggested that Louie be allowed to actually make his motion before she could rule on it. Louie made his motion. And then the clerk immediately upheld Sullivan’s decision to rule it out of order.
Robertson scrummed with reporters outside council chambers afterward.
"We have now heard reports that the city's Chief Financial Officer had concerns about the deal, which the four Vision councillors did not know on Oct 14,” Robertson said. "Their decision was made without all the information... we need to revisit that issue."
When asked about Ladner’s allegations that media reporting about of this deal has already harmed taxpayers’ interests, and disclosure would do further damage, Robertson replied:
“Surely, if the U.S. Congress can debate a $700 billion bailout of financial markets, we can bring this out in the open and discuss it in front of the citizens of Vancouver.”
Monte Paulsen reports on Vancouver politics for The Tyee.
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G West
3 years ago
I think it's pretty clear what's going 'on' Peter
The whole Olympic build/financing structure is coming apart at the seams and the City is betting its patrimony on bailing out a crew of characters they accepted as 'partners' in crime.
There's nothing to hide here EXCEPT the incompetence of the party which has held the reins for the past three years.
I should think Ladner losing the election would be a consummation devoutly to be wished in any case!
Gordon_Ramble
3 years ago
Horray!.... Goodbye Peter!
It looks like the taxpayer will be much better off without you.
NicS
3 years ago
Foundations Are Shaking
Lets see, the world's financial foundations started shaking furiously at the beginning of October. Now, one month later, we are hearing Peter Ladner's refusal to reveal the details of a $100 million deal that involves our tax dollars. He sounds a bit like a child throwing a temper tantrum because he has to tell the truth. His "irrationally held truth may do more harm than" what he sees as someone else's "reasoned error".
joelguy
3 years ago
I no longer know what to think of this
It certainly doesn't seem like a black & white issue, with the NPA on one side and the opposition as the Good Guys. All of them voted for this motion. None of them will now say anything about it.
I have been pretty impressed by Gregor Robertson's response of late. This latest move by Ladner looks either like courageous leadership to make tough decisions, or a desperate attempt to hide a bad situation.
It is worth remembering that S&P has said any $100 million loan would probably NOT affect Vancouver's credit rating (Vancouver Sun). But still, enough stuff has hit the fan in local media that it seems the best thing to do now is tell all.
Luke Skywalker
3 years ago
The Political Silly Season....
Why ask Ladner to answer when he can go and ask his own running mate, Vision Vancouver councillor Raymond Louie, who is also the vice-chairman of the city's finance committee???
Well, if all council members voted in favour of the deal in the first place during the in-camera session without any apparent qualms... and then some details get leaked... Louie now wants to reconsider the deal because of the leaks?
The political silly season is upon us.
Gordon_Ramble
3 years ago
Some people who were sounding the alarm bells
Some people who were sounding the alarm bells on a dangerously overheated Greater Vancouver real estate market back in 2005;
- Mark Allan Angell,
- Progressive Construction,
- There's a few of others, but they arent well know like the above.
The City of Vancouver should have just stuck to the "basics", IE: build the Village... and leave the condo's completely in the hands of the private sector.
P3's seem to be designed to "enrich" a choosen few at the expense/risk of the taxpayer.
Gordon_Ramble
3 years ago
Tying the Athletes Village to the Condo's
Tying the Athletes Village together with the 1,100 Condo's magnified the "risk" of this project by a factor of aprox. 10.
realisticman
3 years ago
Why Won't The VISION Team Talk?
The Vision team had members at high levels (vice-chair!) in the finance meeting and on the finance committee that their candidate wants to hear about.
The Vision candidate obviously cannot get the information he wants from his OWN party members, so he's now demanding, using the press, that his opponent for mayor, Peter Ladner, fill him in and make the meeting public.
If Robertson was at all concerned he would simply ask his own party members to TALK!
This is clearly a silly political game that Robertson is playing because the Vancouver Sun and other media have run with it. Perhaps the Sun likes the idea that a few Vision supporters are now buying their paper.
It would be funny if Peter Ladner were to go after the Vision committee members that were there and demand to know what was debated, approved or voted down.
G West
3 years ago
Ummm
I think Raymond Louie tried that at Council last night...guess you missed that too realisticman
Gordon_Ramble
3 years ago
For an extra $23 million on the land deal
For the extra $23 million on the land deal (Concord offered $170 million vs. Millenniums $193 million) the City of Vancouver tied their wagon to Millennium Developments.
So, by taking the highest offer, the City is now stuck loaning/bailing-out their Purchaser for up to $130 million (and the loans may go higher before this soap opera ends) so the Developer doesnt go bankrupt.
If the City would have taken the $170 million offer from Concord Pacific, the would have been doing business with a solvent multi-billionaire.
What due-dillegence did the city conduct on Millennium?... did Millennium ever even have a balance sheet that qualified them for a project of this size?
The moral of the story is; The highest offer isnt always the best offer.
bcandbeyond
3 years ago
Estelle Lo's Resignation is Key
The one thing that lends credence to NPA councilors and Sullivan withholding information or misleading Vision councilors during Millennium meetings is Estelle Lo's resignation. Say what you like about Vision's "opportunism" but that is politics and Ladner and Sullivan's crew has some 'splainin' to do.....
www.bcandbeyond.wordpress.com
RossK
3 years ago
Mr. Ladner said.....
"“This is a very complicated deal, and is not something that should be discussed in public, or can be understood with one leaked piece of information."
Two things....
First - does all this complication mean that there were competing cities, municipalities, banks and/or hedge funds that wanted to pump liquidity into Millenium (ha!)?
Second - if the deal can't be explained with one leaked piece of information then please, by all means, do explain it to us Mr. Ladner. After all, the 'complex' negotiations are done. And so is the deal. So explain what the heckfire you did with our money!
.
Gordon_Ramble
3 years ago
Fortress stock chart
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=fig&sid=0&o_symb=fig&freq=1&time=9
... and their current market capitalization is $337 Million ... which is a fraction of the value of the alledged $35 Billion in assets Fortress purports to hold.
realisticman
3 years ago
Speak up Louie!
Raymond Louie attempted to introduce a motion calling on council to reconsider the loan. Nobody said he couldn't speak. Guess you missed that, again, GWest. If Vision members that were there want to speak up then why don't they? Politics, or they weren't paying attention.
realisticman
3 years ago
Hands up all who vote for $100 million
OK. Next.
"It appears to us that there may be more information that we haven't been given and we haven't heard all of the opinions of the key staff," said Vision Vancouver Councilor Tim Stevenson.
So why did you vote for it Timmy? Duh!
egmont rapids
3 years ago
RMAN
Campbell and Hansen are the keys to this whole deal--What does Carole Taylor know,why did she resign.
Colin Hansen was the former minister of sport and olympics,Hansen would be privey to all the details and is that why Hansen was promoted to minister of finance!
What does Betty Krawczyk know,when did she know it,who leaked her the story almost a year ago! Betty was calling this a crime just on the basis off the FIRST AND ORIGINAL DEAL,EVEN BEFORE THE BANKRUPTCY!
LADNER IS PROTECTING CAMPBELL AND HANSEN--WE NOW KNOW WHY CAROLE TAYLOE RESIGNED!
http://bettysearlyedition.blogspot.com/2008/02/for-love-of-olympics.html
This woman sure knows how to fight for the cause.
I wish I had as much bravery and class as ===BETTY KRAWCZYK
http://www.youtube.com/watch?v=vGXr7S90bX8
egmont rapids
3 years ago
I try again on that 2 link
http://www.youtube.com/watch?v=vGXr7S90BX8
realisticman
3 years ago
Show me the MONEY!!!
Gregor Robertson's party VISION received campaign money from Millennium, the developer.
Peter Ladner's NPA party refused an offer of money.
egmont rapids
3 years ago
Rman
This has nothing to do with who got money!
Bring on the public inquiry/this is about the original deal,the 100 million is merely a side dish,let the entire story out,Gordon Campbell/Colin Hansen/Vanoc/IOC/Carole Taylor/NPA
Bring it all out/lets talk about the deal,period
Sorry about that second link,I think I have it now,I will try again
http://video.google.ca/videosearch?h1=en&q=betty+krawczyk&um=1&ie=UTF-8&sa=X&oi=video_result_group&resnum=4&ct=title#
G West
3 years ago
Don't think that qutie covered it r/man
The fact is that an NPA majority council doesn't want to come clean. Period. The 'loan' (actually it was a loan guarantee remember) wasn't the only thing Ladner and his cronies didn't and don't want to talk about.
Thing is, Peter's probably going to lose the election and the 'deal'....all of which may end up being the best thing for the people of the city and the province after all.
Let's just roll those five rings all the way back to Europe and spend the money on something with lasting benefits for someone besides Jack Poole and his friends.
I hope the Intrawest folks got cash for their shares - otherwise a bunch more of Gordon's friends may find themselves in some trouble as well.
realisticman
3 years ago
VISION & C.O.P.E.
...taking money from the developer. Is Gregor Robertson going to acknowledge this?
Accusations about Jack Poole and his friends are obviously just a red herring now we learn that Millennium financed Gregor and VISION. A classic case of the pot calling the kettle black.
ME2
3 years ago
Vancouver fog
My own experience is that discussions conducted in camera are rarely if ever privy only to the participants of such a meeting. Rather, the issues are fully explored among members of each participants group prior to the meeting, and then again after the meeting.
IM0, Roberson is fully aware of the details of the meeting under question, but since that knowledge would obviously have come from fellow Vision members who are bound by a legally enforceable oath, he has to feign ignorance.
Were the Vision members duped at that meeting? I think it is quite possible they went along with it in the knowledge that they could make political hay with it at election time.
The task both Parties now face is careful management of spin, for as Luke has noted, it could cause Robertson problems, too.
Blackbird
3 years ago
Oh Brother
If this is how the NPA manages an election campaign, can anyone imagine the political response during an Olympic terrorist attack?