Then-Solicitor General Rich Coleman, left, addresses the media moments after scrapping the controversial photo radar program in 2001. A condo project and land deal approved by Coleman in 2008 will see the private developer not have to repay the $200-million it owes until 2027.The private developer of a condo project that promised to include more than 200 units of social housing on land once owned by the provincial government doesn’t have to pay off the $200-million it owes until 2027.
The contract shows no payments will be due until after Holborn Group starts getting occupancy permits for the completed market condos. But there is no sign of that happening any time soon. Payments will not be triggered until 2031, according to the contract. The start date for interest payments was changed to Dec. 31, 2026, at some point during the Liberal government’s time in office after Holborn agreed to construct one 53-unit social-housing building.
The six-hectare site has sat largely empty since 2009, except for the one new social-housing building that opened in 2015 and one temporary modular housing project that was added in 2019. A second, 70-unit social-housing building is currently under construction. The agreement says that Holborn will not have to pay interest on the $88-million social-housing part of the sale until 2050.
More Liberal scams. NeverVoteLiberal
Grrrrrrrrrrrr
Rich Coleman may go down in history as one of the most corrupt politicians of our time.
Prior BC Liberal gov't was possibly the most corrupt gov't in BC history, enabling organized crime Triad gangs to launder mega-millions through BC casinos & BC real estate,making shady deals with shady developers...Some former BC Lib politicians deserve jail,don't they?
I can't believe I'm saying this but... 'Drain the swamp!'
Why