Larry and Phil have words for Gregor?

MEDIA ADVISORY

FOR IMMEDIATE RELEASE

November 11, 2008

Two Vancouver ex-Mayors to set the record straight on
Olympic Village

Vancouver, BC – On Tuesday, November 11, 2008 two of Vancouver’s ex-mayors will hold a short news conference.

Senator Larry Campbell, founder of Vision Vancouver and Mayor of Vancouver from November 2002 to November 2005, and Mayor Philip Owen, NPA Mayor from 1993-2002, will read a short statement on the Olympic Village and then take questions.

NEWS CONFERENCE

WHEN: Tuesday, November 11, 2008

TIME: 4 PM

WHERE: Creek Side Park, south of Science World, white tents on the dock.

WHAT: Short statement regarding the Olympic Village and a Question and Answer session.

... and Philip Owen's letter about Gregor Robertson:

Dear Friends,
It was an honour and a privilege to serve the citizens of Vancouver for 18 years in elected office.

Gregor Robertson is not being honest and truthful with Vancouver citizens. All his left leaning political colleagues for over 35 years, going back to Harry Rankin, have supported the Property Endowment Fund policies. These policies were followed during the recent Olympic Village issue.

The City has title to the Olympic Village land plus other guarantees from the developer. All lands and buildings used for City purposes (City Hall, Fire Halls, Parks etc) are in the Capital Fund. All others are in the Property Endowment Fund.

As a Councillor and Mayor, I participated in numerous "in-camera" or confidential council meetings concerning the City's Property Endowment Fund. This fund was established to generate income for the City through land investments and through sound management has grown to more than $2.7 Billion in assets. The largest landowner in the City is the City.

Confidentiality in all real estate transactions is essential until the completion date, which is after all the lawyers sign off on the transaction. When and if this is done, all the details about the Olympic Village will be made public.

It has required considerable courage for Peter Ladner and the NPA to stand by the City's commitment considering the misleading partisan rhetoric we are hearing from Mr. Robertson. It is also unfortunate that for political gain Vision and Cope are now publicly reneging on their unanimous council vote.

The New York Bond rating agencies give Vancouver a AA+ credit rating, the highest, primarily because of the Property Endowment Fund.

Vancouver needs proven leadership to deliver a successful 2010 Winter Olympic Games and to capitalize on the associated opportunities. Recent events have confirmed in my mind that Peter Ladner and the NPA will provide Vancouver the leadership it needs at this decisive moment in our City's history.

Sincerely,

Philip Owen
Former Mayor of Vancouver
1993-2002