Vancouver Olympic Village likely won't be the only shock

by mtippett | January 14, 2009 at 10:39 am

238 views | 12 Recommendations | 5 comments

Charlie Smith at The Straight itemizes the whopping expenses that Vancouver taxpayers will be expected to shoulder as the result of our migsuided affection for the Olympics.

The media went into overdrive after Vancouver Mayor Gregor Robertson said the province should amend the Vancouver Charter to permit an additional $458 million of borrowing.
In a report to council on January 12, city manager Penny Ballem said this is necessary to complete the Olympic Village.

This is just the first of many shoes that will drop in connection with the cost of hosting the Winter Olympics.

To get a sense of what you'll be paying in taxes you should read the whole piece.

oh boy! its montreal all over again! yay!

I wonder how much they are going to sell those units now, considering 200 or so are already sold at around half a million., So lets see they need 1.1 billion in cash, and they have 800 units left for sale, now divide that into 1.1 billion (not counting the interest payments which are said to amount to 500 million) and you get a real expensive piece of real estate some want to be turned into housing for the homeless. Yep, I wonder how many taxpayers with homes will live in fancier 2.6 million dollars (interest payments included for the 1.1 billion dollar loan)for each 600 square foot digs if the homeless are relegated to live there if politicians have their way which is estimated after interest payments are calculated. And that is just so they can break even. Just think Glen Clarks dream of the Olympics came true, what rich tastes the NDP have who initially got this scam going. Someone is making beaucoup bucks on all this, and it aint the taxpayers of Vangroovy who will be in hock for 30 plus years after the Olympics have come and gone. But hey we now have a skytrain from the airport to downtown! WTF! Mayor Gregors dream of ending the Homeless solution by 2015 is certainly going to come true on the backs of the taxpayers, and then More Homeless will come from all over Canada to get into waterfront digs at Hollywood prices. Thank god I don't live and pay taxes in Vangroovy, Sucks to be a Vancouveritte homeowner. I am sure they will find some suckers to buy these 2.5 million dollar closets! Most likely the NDP government paid for by the BC taxpayers, if they (NDP) get elected in 2009.

Putting social housing on some of the most expensive property in North America was a stupid idea from the start. Let's hope the new council puts down the bong that last council was smoking and makes the whole development market housing. Why go to school and work hard all your life to get waterfront views if you can just be "entitled" to it with no effort on your part whatsoever. We need to house the homeless but this is insane. Build clean affordable housing on AFFORDABLE land and we can afford to house many more with the same amount of taxpayer dollars.

I think those Olympic games are getting out of hand and need a cap of some sorts or be put into on location for all games to come to avoid this run up. Tokyo is trying to get the games and many here are against it because of what happened in in other cities before like Montreal, Munich, Sydney, LA, Begin now... It is not worth the prestige.