Amendment coming for Village bailout - Metro US

Amendment coming for Village bailout

Premier Gordon Campbell will recall B.C.’s Legislative Assembly to pass an amendment allowing Vancouver to borrow up to $458 million to complete the financially troubled Olympic Village.

Speaking to media yesterday, Campbell said work on the amendment is underway. Once completed, the legislature will be recalled and the amend­ment introduced to the House.

No date for the recall has yet been scheduled, but it will be before the Feb. 10 throne speech.

On Monday, Vancouver’s city council passed a unanimous motion to ask the province to amend the Vancouver Charter to allow the city to borrow money without a referendum.
The final $21-million of a $100-million city advance will be spent on the project today to keep construction moving.

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