In the following letter to the editor, the author suggests we ask ourselves why the Municipal Finance Authority thought that Langford’s proposed non-traditional borrowing arrangement for the interchange was riskier than they claimed.  Fair enough.  The real question, in my mind, is whether Langford Council is willing to ask themselves the same question. 

- Steven Hurdle -

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MFA has reasons to doubt Langford

Times Colonist
letter to the editor
Published: Sunday, March 23, 2008

Langford Mayor Stew Young says the Municipal Finance Authority is lending money to other municipalities at low rates, but sought additional guarantees from Langford.

We need to ask ourselves why this experienced institution feels Langford’s schemes are a risk to its reputation. Perhaps the schemes aren’t as watertight as the mayor would have his population believe.

Machines and workers are busily cutting, blasting and roadbuilding without a a borrowing bylaw in place to finance the project.

Jennifer Andison

Langford

© Times Colonist (Victoria) 2008

   Well, I don’t imagine anyone saw this one coming.  One of the people behind the tree-sit has purchased the mineral rights for all of Bear Mountain.  This is significant primarily for two reasons:  it grants him relatively unfettered access to the properties he owns the mineral rights on, and it gives him certain rights regarding anything that could involve rock (blasting, digging, etc.) on those lands.  It will be very interesting to see how this plays out.

- Steven Hurdle -

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Bear Mountain Road Foe Grabs Mineral Rights Read the rest of this entry »