RICHMOND: City needs new accounting officer ( Part 2 )
From Part 1
” That said,…..w-h-e-r-e DID they get the money to build City Hall ? IMHO, this was the start of the downward spiral.”
If you are familiar with Richmond…there is a development called “ODLINWOOD”, immediately North of Alderbridge, and East of #4 RD./ West of Shell Road.
The City has purchased a parcel of land , approx 40 acres, in this area. They proceeded to re-zone it into a residential area ( directly under the YVR flight path ) with a mix of Single family and Multi Family units. As is normal with Gov’t…they couldn’t have picked a worse economic climate to proceed in this Taxpayer Funded “Venture”.
While this should be investigated further, suffice it to say this development was apparently the main funding source for the new City Hall. Thus, the taxpayer was exposed in a City Venture that did not have Taxpayer approval….thus the dictators at City Hall found a means to build their NEW City Hall without the “democracy-by- design” of a referendum.
What I recall is that ODLINWOOD sales were s-l—o—-w….and did NOT sell out,…..and it is my understanding several lots were discounted and flogged -off in bulk sale to a major Richmond Developer.
The irony is….I recall many of these single lots were selling for the low to mid $100,000 range…..completed homes sold for the mid $300,000 range…..whereas until recently…they would have commanded MUCH more.
The point is,this ALL occurred under the current “Buck stops here” Richmond CAO .
( To Be Continued)