CentreVenture must wait until September
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Hey there, time traveller!
This article was published 10/06/2015 (4117 days ago), so information in it may no longer be current.
A final report of a city council review of the CentreVenture mandate has been postponed to September.
Mayor Brian Bowman said the review committee has conducted more than 40 interviews associated the task but that chairman Coun. John Orlikow requested more time to complete the work.
As part of the fallout of council’s questioning of the appropriateness of CentreVenture’s dealing with True North over the 220 Carlton St., property, Bowman called for a review of CentreVenture’s mandate.
During late January, Bowman accused CentreVenture officials – wrongly, as its turns out – of withholding key information about the proposed True North Square project from his office and council.
In early February, Bowman appointed a committee of councillors – Orlikow, Janice Lukes and Brian Mayes – to review the agency’s mandate and bring a report back to executive policy committee within 120 days.
The city’s downtown development agency was created by city hall 15 years ago to attract and leverage private-sector investments in the downtown.
But some are questioning its money-losing methods. It was tasked by the Sam Katz administration to buy and shut down two troublesome downtown hotels – the St. Regis and the Carlton Inn – but it sold both properties for less than what it paid for them.
Some critics say that approach is financially unsustainable but CentreVenture’s defenders say the agency has a mandate that can’t always be measured by the plus-and-minuses of a financial ledger.
aldo.santin@freepress.mb.ca
