Vancouver Taxpayers Stuck...

Vancouver Taxpayers Stuck...
Vancouver taxpayers are on the hook for millions of dollars a month in interest payments for the troubled Olympic village project, and there are no plans to start selling the empty condos again until next year. Expenses for building maintenance and security and other costs are adding as much as $1.5 million a month to the multimillion-dollar interest payments. Moreover, the court-appointed receiver Ernst & Young has the power to borrow as much as $7.5 million to carry out its job. The figures emerged this week as part of the backdrop for the city's extraordinary demand to put Millennium Southeast False Creek Properties into a "negotiated receivership" over the $740 million it owed for two taxpayer-funded loans