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Anonymous said...
with links to the BC Rail deal.
FOR IMMEDIATE RELEASE
June 12 2003
RE: Plundering BC: Olympics, The Bid Corp, and Special Interests
1. Who's who in the Bid Corp? Some special members and their 'interests':
-Concord Pacific (Li Ka-Shing and Hui family owned), developer of the
former Expo 86 lands (one-sixth of downtown Vancouver) is significantly
represented on the Bid Board with David McLean (Chairman of the Board and
a Director of Concord Pacific Group Inc.) and Kwok Tun-Li, Stanley (Former
Deputy Chairman for Concord Pacific).
2. David McLean is also involved with the following business interests:
a) Founding Chairman of the Vancouver Board of Trade Foundation
b) Founder and Chairman, Vancouver Film Studios (another BC
government-funded private entity)
c) Chairman of the Board, The McLean Group, which has developed numerous
residential, office, retail and industrial properties
d) past Chair the Canadian Chamber of Commerce
e) Director, DeHavilland Aircraft of Canada
f) Director, Northwestel
g) Director, CANAC Consultants Ltd.
h) Director, Nu West Group
i) Founding Chairman of Westech Information Systems, the former
information systems arm of B.C. Hydro, and led the company through
privatization from its parent company
j) Former Chairman of the Board of Coastland Wood Industries
k) One of twenty-two business delegation members led by Premier Gordon
Campbell to attend 2002 World Economic Forum.
-Mr. McLean is also involved with the following business interests:
Chair, CN Rail (frontrunner to purchase the soon-to-be-privatized BC
Rail)
Founding Chairman of the Vancouver Board of Trade Foundation
Founder and Chairman, Vancouver Film Studios
Chairman of the Board, The McLean Group (which has developed numerous
residential, office, retail and industrial properties)
Director, DeHavilland Aircraft of Canada
Director, Northwestel,
Director, CANAC Consultants Ltd.
Director, Nu West Group
Founding Chairman of Westech Information Systems (the former information
systems arm of B.C. Hydro, and led the company through privatization from
its parent company)
Former Chairman of the Board of Coastland Wood Industries Chair, CN Rail.
3. Stanley Tun-Li Kwok and Bid Corp, reported as 'Mastermind of Expo '86',
is also involved in a multitude of multinational businesses:
a) Principal, Stanley Kwok Consultants Inc.
b) Director, Cheung Kong (Holdings) Limited (The Cheung Kong Group, owned
principally by Li ka-Shing operates in 41 countries and employs over
163,000 staff worldwide)
c) Development Consultant for the South East Shore of False Creek
d) Director of Omnipoint Corporation, priceline.com Incorporated, VoiceStream
Wireless Corporation, Western Wireless Corporation, Global Crossing Ltd.,
Breakaway Solutions Inc.
d) Director, Amara International Investment Corporation (a Vancouver-based
private company specializing in real estate investment and in locating
Asian partnerships for projects).
e) Director, CTC Bank of Canada
f) Director, Husky Energy Inc.
g) Principal, Stanley Kwok & Associates,(worked on the Concord Pacific
development on the former Expo lands on the north shore of the Creek)
h) Joint Venture Partner with TYBA Group Inc and Dong Ah Construction
Industrial of Seoul, South Korea in the Crystal Project , a CAN$200
million development in suburban Vancouver that also includes 55,000 square
feet of office space, a 210,000 square-foot retail area, a 22,500
square-foot conference center and a 218-unit residential complex.
i) Former Director, BC Hydro
j) Director, Bank of Montreal
-Vancouver hosted Expo'86, an international event not unlike the scale of
the proposed 2010 Winter Games. One and a half years later, then Premier
Bill Vander Zalm concluded the sale of the Expo lands (84- hectare site on
False Creek, representing one-sixth of downtown Vancouver) to Li Ka-Shing
(and the Hui family) for a reported price of $145 million (said by many to
be far too low, especially considering the tens of millions of dollars the
province spent to complete the environmental clean-up of the site).
Subsequently, his company, Concord Pacific Holdings, redeveloped the site
into a multi-billion dollar downtown residential community. Bid Board
Member, Stanley Tun-Li Kwok describes himself at one of his corporate
websites as 'Mastermind of Expo '86'.
-Mr. Kwok is Former Deputy Chairman for Concord Pacific (Bid Corp Director
David McLean is the current Chairman of the Board of Concord Pacific).
-Concord Pacific is the owner of Burcon International Developments Inc.,
one of North America's leading real estate development, investment and
management organizations with assets over C$1 billion and based in
Vancouver, B.C.
-Burcon is the controlling shareholder of Oxford Properties Group Inc.
(owner of Marathon Realty).
-Mr. Kwok is Principal, Stanley Kwok Consultants Inc. and Development
Consultant for the South East Shore of False Creek. He is also a Director
of Li Ka-Shing's Cheung Kong (Holdings) Limited (The Cheung Kong Group
operates in 41 countries and employs over 163,000 staff worldwide with a
combined market capitalization of HK$439 billion as at January 31, 2003).
Kwok is Director, Amara International Investment Corporation (a
Vancouver-based private company specializing in real estate investment and
in locating Asian partnerships for projects). His additional Directorships
include: Li Ka-shing's companies: Omnipoint Corporation, priceline.com
Incorporated, VoiceStream Wireless Corporation, Western Wireless
Corporation, Global Crossing Ltd., Breakaway Solutions Inc. and Husky
Energy Inc. (Husky Board Members also include: Stanley's wife Eva, Terry
Hui, President and CEO of Concord Pacific Group Inc., Martin Glynn President, Chief Executive Officer and a director of HSBC Bank and Victor Li, son of Li Ka-shing, Managing Director and Deputy Chairman of Cheung Kong (Holdings) Limited
Canada). Bank Director positions include: Bank of Montreal and CTC Bank
of Canada. Additionally, he is a Joint Venture Partner with TYBA Group Inc
and Dong Ah Construction Industrial of Seoul, South Korea in the Crystal
Project , a CAN$200 million development in suburban Vancouver that also
includes 55,000 square feet of office space, a 210,000 square-foot retail
area, a 22,500 square-foot conference center and a 218-unit residential
complex.
As noted, Concord Pacific, Li Ka-Shing and Hui family owned, is
significantly represented on the Bid Board with David McLean (Chairman
of the Board and a Director of Concord Pacific Group Inc.) and Stanley
Kwok Tun-li (Former Deputy Chairman for Concord Pacific).
4. Other Bid Corp directors and their interests:
-HSBC (of which Li Ka-shing is a Principal and Director) is aptly
represented on the Bid Board by Eric Major, Director, HSBC Capital
(Canada) Inc. and Milton Wong, Chair, HSBC Asset Management Canada Ltd.
(responsible for assets of $4 billion at HSBC). HSBC purchased M.K. Wong &
Associates to form HSBC Asset Management Canada Ltd. Merrill Lynch Canada
(reportedly owned by Thomas Fung, Fairchild Group) is represented on the
Bid Board by Guy Savard, Vice-Chair & Chair, Quebec Operations, Merrill
Lynch Canada Inc. Merrill Lynch International is reportedly owned by Li
Ka-shing and Thomas Fung. Bid Board Member, Ms. France Chrétien-Desmarais
is daughter of the Honourable Jean Chretien, Prime Minister of Canada.
-Mr. Chretien, was from 1986 to 1990 a Senior Advisor with Gordon Capital
Corporation in Montreal.
-Gordon Capital is principally owned by Richard Li (Li Ka-Shing's son)
Gordon Capital owns HSBC Securities.
-Ms. Chretien-Desmarais husband is Andre Desmarais, President and Co-Chief
Executive Officer of the family-owned Power Corporation of Canada
Power Corporation of Canada is a diversified management and holding
company. Power Corporation of Canada has holdings in leading financial
services and the communications sector.
-Through its European-based affiliate Pargesa group, Power Corporation
holds significant positions in major media, energy, water, waste services,
and specialty minerals companies. Power Corporation also has diversified
interests in Asia.
-Power Financial Corporation is a diversified management and holding
company with interests in the financial services industry in North
America. Including: Great-West Lifeco Inc.: The Great-West Life Assurance
Company, London Life Insurance Company, Great-West Life & Annuity
Insurance Company. Investors Group Inc. is one of Canada's leading
financial services companies with over $41.6 billion in assets under
management and a network of 3,400 consultants.
-Mackenzie Financial Corporation is an integrated financial services
company whose core business is the management of mutual funds in Canada,
with $33.4 billion in assets under management, and distribution
relationship with over 37,000 independent financial advisers. Pargesa
Holding S.A. holds significant positions in a selected number of large
companies based in Europe. These companies operate in strategic industries
including media, energy, public utilities and specialty minerals.
-Gesca Ltée holds a 100 per cent interest in the Montreal daily newspaper
La Presse and six other daily newspapers in the province of Quebec and
Ontario.
-Power Corporation of Canada is a partner with Li Ka-shing in CITIC
Pacific Limited (China's largest diversified Hong Kong-traded company. Its
activities are concentrated in four main areas: infrastructure, trading
and distribution, real estate and industrial manufacturing). Mr. Desmarais
is a Director and/or Member of the Board of: Great-West Lifeco Inc.,
Investors Group Inc., London Insurance Group Inc., Pargesa Holding S.A.,
Groupe Bruxelles-Lambert S.A., Bertelsmann A.G. Mr Desmarais is also a
Director of CITIC Pacific Ltd. and Bombardier Inc.
-In addition, Mr. Desmarais is Chairman of the Canada China Business
Council; Member of the International Advisory Council of CITIC; Member of
the Trilateral Commission; Member of the Chairman's International Advisory
Council of the Americas Society; Member of the Business Council on
National Issues and Member of diverse foundations and trusts in Canada and
a Member of the Hong Kong Chief Executive's Council of International
Advisers (The CECIA advises the Chief Executive from an international
perspective on strategic issues pertinent to the long-term development of
Hong Kong).
- Ms. Chretien Desmarais' husband Andre is a Director of Bombardier Inc.
-Also on the 2010 Games Bid Board is Mr. Laurent Beaudoin, Chair,
Bombardier Inc. Bombardier stands to gain significantly from their supply
of the $1.5 billion to $2 billion Vancouver/Richmond Rapid Transit line
proposed by the 2010 Bid Corp.
5. Bid Corp and the Sea to Sky Corridor:
The ski resort industry stands to make significant profits from the 2010
Winter Games.
-Intrawest is represented on the Bid Board by Doug Forseth, Senior VP,
Operations, Whistler and Blackcomb Mountains. TAL Global Asset Management
(owned by CIBC) is the largest institutional shareholder of Intrawest
(reportedly 15%). Li- Ka-shing is reportedly the largest shareholder
(maximum allowable 10%) of CIBC. CIBC owns Wood Gundy.
Intrawest is the leading developer and operator of village-centered
destination resorts across North America. Intrawest owns or is involved in
14 mountain resorts in North America and Europe along with two
warm-weather resorts in the U.S.
-The company also has an interest in Alpine Helicopters Ltd., owner of
Canadian Mountain Holidays, the largest heli-skiing operation in the world
and Compagnie des Alpes, the largest ski operator in the world in terms of
skier visits (13 million in 2000/2001).
-Intrawest also has land on which to build 20,000 more units. Intrawest
holdings include ski resorts, residential communities, retail, hotels and
lodges.
-The Bid Corp. has identified rental costs payable to Intrawest for
facility usage during the Winter Games at $10 million to $30 million. In
addition to Concert Properties' real estate development interest in other
ski resorts and Intrawest's vast resort holdings, other Bid Board members
are intimately involved in the ski resort industry, including:
a) Kerrin Lee-Gartner (listed as Canadian Olympic Athlete - Alpine Skiing)
is Principlal, Kerrin Lee-Gartner's Snow Creek Lodge and Principal, Fernie
Alpine Resort
b) Nancy Greene Raine (listed as Director of Skiing, Sun Peaks Resort;
Canadian Olympic Athlete - Alpine Skiing) is Principal, Nancy Greene's
Cahilty Lodge, Sun Peaks, BC; President, NGR Resort Consultants Inc.;
Proponent with husband Al Raine of Melvin Creek/Cayoosh, $500 million
four-season ski resort (90 minute drive from Whistler). Al Raine was
responsible for the planning of Whistler.
-Mr. Caleb Chan (along with brother Tom Chan) has considerable businesses
assets in British Columbia and abroad. Of particular note are the holdings
in Vancouver, Furry Creek, Whistler, etc. directly impacted by the
2010Vancouver/Whistler Olympic Games:
a) President & Chairman, Burrard International
b) President & Chairman, The International Land Group, San Francisco
c) Director, UBC Properties Trust
d) Director, Belkorp Industries Inc. - Through several companies active in
British Columbia, Alberta, Washington, and Oregon, the Belkorp Group
Owns and operates: an extensive portfolio of properties comprising
approximately ,500 residential apartment suites, five industrial sites,
and Big Sky Golf, an award-winning course, conveniently located near
Whistler in the Pemberton Valley of British Columbia. In addition, the
Belkorp Group invests in various long-term business opportunities as a
merchant banker. Its holdings include significant interests in Rogers
Sugar Income Fund and Canadian Hotel Income Properties Real Estate
Investment Trust (CHIP REIT), an integrated hotel real estate investment
trust focused on mid-market and upscale full-service hotels. CHIP REIT
currently owns or manages 38 hotels with approximately 8,400 rooms. The
Belkorp Group owns and operates four businesses in the pulp and paper
production industry: Newstech BC reprocesses 165,000 tonnes of used
newsprint annually at its ISO9002 production facilities in Coquitlam,
British Columbia, producing recycled pulp for the newsprint industry;
Wastech Services one of the largest privately-owned solid waste management
companies in British Columbia, handles approximately 600,000 tonnes per
annum of municipal waste at three transfer stations in Greater Vancouver
and operates a landfill at Cache Creek for the GVRD ; Belkin Paper Stock
brokers waste paper from suppliers in Western Canada and the U.S. to mills
which use recycled fiber. This company also has established a newsprint
roll splitting and rewinding operation in Coquitlam. Waste-Not Recycling and Disposal, located in Richmond, British Columbia, provides recycling and waste removal services
for the residential, industrial, commercial, and institutional sectors of the Greater Vancouver, British Columbia region.
e) Director, Board of Trustees, Canadian Hotel Income Properties
f) Principal, GolfBC Properties: Kelowna: The Okanagan Golf Club, The Bear
at Okanagan Golf Club, The Quail at Okanagan Golf Club, Gallagher's Canyon
Golf & Country Club, The Pinnacle Course at Gallagher's Canyon Whistler:
Nicklaus North Golf Course & Crystal Lodge Furry Creek: Furry Creek Golf &
Country Club Vancouver: Mayfair Lakes (Richmond) & Burrard Golf & Tennis
(at Burrard & Alberni, Vancouver) Vancouver Island: Arbutus Ridge Golf &
Country Club (Cobble Hill) & Olympic View Golf Club (Victoria) Other
GolfBC properties: Burrard Golf & Tennis & The Crystal Lodge, Whistler
g) Principal, CRC Developments Ltd.( The company owns golf course
residential developments)
h) Principal, Gallagher's Canyon Land Development Ltd.
i) Nicklaus North, in Whistler, B.C. and Arbutus Ridge on Vancouver Island
are two examples of communities CRC has developed.
j) Currently in the planning stages is the development of a new community
at the Olympic View Golf Course in the Victoria area on Vancouver Island.
k) Goldenwood Townhouse Project, Whistler, BC.
l) member of the advisory board of the Asia Pacific Initiative in Vancouver
m) Director, B.C. Housing Management Corporation
n) Director, Land Planning Committee of the Loma Linda University
Development Corporation
Perhaps this is a good time to re-visit the $billion question:
6. The Toronto 2008 Bid: Connections or Coincidences?
-Li’s Concord Pacific's City Place is a 44-acre development site in
downtown Toronto, on which 5.5 million square feet of residential and
commercial space are to be built.
-Li Ka-shing reportedly also holds an exclusive right to use the CN Tower
for a period of 35 years (obtained for $2 billion CDN). Financier Robert
Fung, was appointed by Prime Minister (and former business partner) Jean
Chretien to Chair the Toronto Waterfront Revitalization Task Force on
behalf of the Government of Canada, the Province of Ontario and the City
of Toronto. The new corporation was to involve construction of large-scale
infrastructure projects that would permanently improve Toronto's
waterfront, as well as support the city's bid for the 2008 Olympics.
-His report detailed a strategic business plan for the $12 billon renewal,
development and financing of Toronto's waterfront. Fung was afterward
appointed as Chair of the Toronto Waterfront Revitalization Corporation.
-Robert A. Fung is Deputy Chairman of Yorkton Financial Incorporated. From
1980 to 1997, he was the vice-chairman and a director of Gordon Capital
Corporation.
-Upon leaving Gordon Capital, he joined Capital West where he was a senior
partner. From 1967 to 1978, he was vice-president and a director of
Dominion Securities Limited with responsibilities for its investment
activities in Asia and the Middle East.
-He began his career in the investment industry in 1964 with Wood Gundy.
He is Chairman of Crystallex International Corporation, SMART Toronto as
well as a director of Canada's Export Development Corporation, Asia
Pacific Foundation of Canada, GLOBE Foundation of Canada, and StockHouse
Media Corporation.
-He was a member of the Prime Minister of Canada's Advisory Committee on
Asia Pacific Economic Cooperation, as well as a member of the Government
of Canada's Department of Industry International Trade and Agriculture
Team Canada Inc. Advisory Board, which provided advice to the Government
of Canada in setting strategic direction and performance objectives for
Canada's International Business Development.
-He was also deputy-chairman of high-tech brokerage Yorkton Securities Inc
and Executive Chairman of Crystallex International Corp.
-Fung's son Robert Jr. worked as a developer on Vancouver's False Creek
development with Concord Pacific Group Inc.
-Fung's university roommate, long-time friend Paul Martin, prime minister
in waiting, was a former senior executive with Power Corp. and
Consolidated Bathurst. Martin served as CEO of both CSL Inc. and Canada
Steamship Lines. Martin eventually purchased Canada Steamship Lines from
Power Corp. for $180 million.
7. Who benefits the most from the 2010 Winter Games and the associated
mega projects?
RAV:
-Bombardier is highly represented on the Bid Corp and stands to pick up a
multi-billion contract for the proposed Vancouver/Richmond line.
-Original Bid Society Member, Arthur Griffiths, was Chair of Public
Consultation, Rapid Transit Project 2000, charged with the public-view
task of addressing our rapid transit needs.
Convention Centre:
-Bid Board Members are on the Convention Centre Expansion Task Force Chair
Peter Armstrong and Rick Antonson, Member & Spokesperson, Convention
Centre Expansion Task Force who are the ones that have told us how badly
we need the expansion, irrespective of the Winter Games.
-The three approved Convention Centre Expansion bidders were Concert
Properties, Concord Pacific and Marathon Realty.
-2010 Bid Board Members: Jack Poole, David Podmore and Ken Georgetti
proposed to build the Convention Centre, inclusive of a casino, almost a
decade ago.
Sea To Sky Highway upgrade:
-See the listed developments above along the highway.
8. The Bid and privatization:
-The 2010 Winter Games may or may not come to BC but the mega-projects
will, paid for by BC taxpayers.
-Once the infrastructure has been built how long will it be before the
assets will be privatized and handed over to the private sector for
'cost-saving measures'?
-Some further connections: The Bid Corp includes Larry Bell, who
established Urban Transit Authority (B.C. Transit), 1978; Responsible for
the Privatization - Housing Corp. of B.C. ('79), B.C. System Corp. ('82),
B.C. Hydro Gas ('88), B.C. Hydro Rail ('88) and was the Former Member of
Government of B.C. Public/ Private Partnership Task Force AND now Chair
and CEO, BC Hydro during the Accenture-privatization process.
-David McLean, Founding Chairman of Westech Information Systems, the
former information systems arm of B.C. Hydro, who led the company through
privatization from its parent company?
-Premier Campbell has just announced the need to privatize BC Rail and the
Games Bid Board includes: David McLean, Chair, CN Rail; Peter Armstrong,
President & CEO, Great Canadian Railtour Company Ltd. And Rick Antonson,
Former Vice President of Great Canadian Railtour Company Ltd.Or maybe,
Suzanne Denbak, "consultant with Price Waterhouse, specializing in
public/private partnerships in the hospitality industry".
9. NO GAMES 2010 Coaltion has released previous disclosures of conflicts
of interest in relation to the 2010 Olympic Bid. These previous
communications and the current one make clear the intimate connection
between special interests and the mega projects associated with the Games.
The citizens of BC who ignore this information will pay for their lack
of action with their tax dollars for decades to come.
10. The Olympic Bid is a scam of epic proportions. The time has come for
all citizens to ask questions and demand answers. The time has come for
members of the press to finally do their jobs.
Anonymous said #2 ...
BC RAIL DEAL FREES REAL ESTATE
By Charlie Smith
March 3, 2004
Deny, deny, deny. That pretty much sums up Premier Gordon Campbell's communications strategy concerning an RCMP investigation into two B.C. Liberal legislature officials for breach of trust.
In a stunning television sound bite, Campbell even suggested that the whole affair had nothing to do with his government.
This astonishing claim followed the release of a summary of search-warrant information. It explicitly stated that the investigation focused on whether or not offers were made and/or accepted "as consideration for cooperation, assistance or exercise of influence in connection with government business, including BC Rail".
Nobody has been charged with a criminal offence, and perhaps nobody will ever be charged. The search-warrant information states that no elected officials are targets of the investigation.
However, even if charges are laid, there is no guarantee that a criminal trial will shed any more light on the $1-billion sale of BC Rail shares to CN. In a criminal case, the Crown's only responsibility is to prove that the accused are guilty of specific offences beyond a reasonable doubt. The accused cannot be compelled to testify.
Only a broader public inquiry, in which a commissioner has subpoena powers and witnesses testify under oath, has any hope of ferreting out the truth about the decision to privatize BC Rail.
Consider the facts so far. Prior to the election, the premier told voters that he would not sell the Crown-owned railway. What led him to change his mind?
According to a fairness commissioner's report, some unsuccessful BC Rail bidders expressed concerns that information pertaining to their own interline agreements with BC Rail had been improperly or prematurely provided to CN.
One of the bidders, Canadian Pacific Railway, formally withdrew from the process after complaining about a "breach of fairness".
CN has contributed $150,000 to the B.C. Liberal party during Campbell's tenure as leader.
Meanwhile, a Crown corporation that manages public-sector pension funds, BC Investment Management Corp., owned $200 million in CN shares as of March 31, 2003.
CN chair David McLean, a Vancouver developer, has been a political supporter of the premier since Campbell was mayor of Vancouver in the 1980s and early 1990s.
McLean was previously chair of Concord Pacific, which also supported Campbell when he was mayor of Vancouver. Concord Pacific developed the north side of False Creek.
McLean also chaired the influential Vancouver Board of Trade in 1992 93 and supported Campbell's efforts to replace Gordon Wilson as leader of the B.C. Liberal party.
On November 25, the B.C. Liberal government announced in a news release that it had reached an agreement-in-principle with the District of Squamish to transfer 29 hectares of BC Rail land to the district.
According to the news release, prospective plans for the BC Rail site include developing a full-service marina, a passenger ferry terminal, and cruise berths.
The government also announced that CN will "facilitate" upgrading of the Sea-to-Sky Highway and ensure rail alternatives for the 2010 Winter Olympics. McLean was a director of the Vancouver 2010 Bid Corporation, which put together a successful bid to the International Olympic Committee.
The major provincial media continue focusing on the activities of political aides at the centre of the story. There has been little coverage of BC Rail's waterfront property in Squamish.
As the District of Squamish proceeds, there will be no shortage of developers wanting to exploit the potential. B.C.'s biggest players, such as Concert Properties and Concord Pacific, may find such an opportunity irresistible on the eve of the 2010 Olympics.
Executives with both companies were huge supporters of the Olympic bid. Concert Properties chairman Jack Poole is now chair of the organizing committee that is staging the 2010 Winter Games.
The IOC's endorsement last year set the stage for a real-estate boom along the Sea to Sky corridor.
So far, there is no evidence linking the privatization of BC Rail with the Olympic bid.
The premier had better hope this remains the case, because Vancouver will be hosting reporters from around the world in 2010. And it won't help B.C.'s image or the premier's reputation if the selloff of a Crown-owned railway becomes the big story of the games.
Anonymous said #3 ...
NEWS RELEASE
For Immediate Release
2003OTP0107-001058
Nov. 25, 2003
Office of the Premier
Ministry of Transportation
SQUAMISH BENEFITS FROM BC RAIL INVESTMENT PARTNERSHIP
SQUAMISH – The Province has approved an agreement-in-principle with the district of Squamish and Nexen Inc. to transfer 71 acres of BC Rail lands to the district, allowing the city to revitalize its downtown core and create opportunities for jobs and economic development, said Judith Reid, Minister of Transportation.
“As we move forward with the investment partnership, we’re committed to working with communities up and down the corridor to make BC Rail’s surplus lands available to meet their needs,” said Campbell. “Mayor Sutherland and the district have been strong advocates for the opportunities that the Nexen lands can provide. With the agreement we’ve reached today, the Province and the district are working together to make the downtown redevelopment a reality.”
“I’m pleased Squamish can benefit from the BC Rail investment partnership,” said Transportation Minister Judith Reid. “I see a great potential here to boost tourism and draw business into the downtown. With the approach of the 2010 Olympic games, this is going to be a great way for Squamish to showcase their community and prosper from the new job opportunities, tourism investment and new taxation revenue.”
As a key element of the agreement-in-principle, BC Rail will potentially divest the land forming a peninsula at the tip of Howe Sound in downtown Squamish.
“This agreement sets the foundation for Squamish to realize its economic potential as we prepare for the 2010 Olympic games,” said Mayor Ian Sutherland. “Revitalizing the downtown will attract business and investment opportunities and will prove to citizens, shoppers, tourists and even 2010 athletes that downtown Squamish is the heart of our community."
Nexen, one of Canada’s largest oil and gas companies, has leased the land from BC Rail since 1987 and has been a supportive and active participant in the transaction with Squamish. The site has not been in operation since 1991, as Nexen has been undertaking remediation activities. This cleanup is now complete, opening an opportunity for Squamish to take ownership of the land.
Prospective plans include developing a full-service marina; a passenger ferry terminal; cruise berths; and a working waterfront involving light industrial manufacturing and transportation.
West Vancouver-Garibaldi MLA Ted Nebbeling, noted that the reintroduction of passenger-tourist trains under the $1-billion BC Rail Investment Partnership will create even more opportunities for Squamish and the Sea-to-Sky corridor. BC Rail and CN are issuing a request for proposals today for passenger-tourist services from Vancouver through Squamish, Whistler, Pemberton and Lillooet to Prince George.
“Throughout this process, I’ve been working to make sure that the concerns of Squamish residents about job impacts are addressed,” said Nebbeling. “The downtown redevelopment, along with new passenger tourist trains made possible by the BC Rail partnership, will go a long way to creating more jobs and new opportunities for Squamish.”
Additional benefits include:
· CN will work with the Province to facilitate the upgrading of the Sea-to-Sky Highway and ensure rail alternatives for a successful 2010 Olympics.
· CN will begin paying municipal taxes. Based on current assessment levels, the District of Squamish would receive more than $650,000 compared with the current amount of $321,000 paid by BC Rail in lieu of taxes. The Resort Municipality of Whistler would receive $55,000, compared with the current amount of $27,000. And the Squamish-Lillooet Regional District would receive over $495,000, compared with the current amount of $56,000.
· In addition to the Nexen site, the Province will also negotiate with communities on the transfer of other non-railway lands currently held by BC Rail to help meet local needs.
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Again, thanks to the generous Citizen Journalist who put this research together.
- BC Mary.
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Media
contact:
Steve Anderson
Communications Director
250 387-7787
Visit the province's Web site at http://www.gov.bc.ca/ for online information and services.
