FPN Calls for NNC Audit

Friends of Plan Nanaimo will be requesting that the Auditor General of British Columbia appoint an independent auditor to assess and report on all costs associated with the construction of the New Nanaimo Centre. This assessment would address all construction, infrastructure, environmental mitigation, and servicing costs incurred to date, along with projected cost estimates.

FPN’s request follows an announcement by the City of Nanaimo that its partner, Triarc/Suro/Millenium (TSM), has failed to secure, for the second time, private sector financing to construct its 37-storey hotel/condo tower adjacent to the conference centre.

Don Stone, President of FPN, says, “It's time to inform the taxpayers of Nanaimo exactly how much the City has spent on the NNC to date and where they have spent it. As the major financier of the NNC, the Nanaimo taxpayer has the right to know.”

The City Manager informed Council recently that NNC costs are expected to exceed $100 million. With no relief in sight from senior levels of government, Stone asserts, “This places the taxpayers of Nanaimo in an extremely perilous position – it will be the local taxpayer who will bear most of the financial burden of this project. It's time to rethink and reassess the NNC – an independent audit would be an important first step in such a re-assessment. Only then can the public determine whether the project, as currently conceived, should proceed or whether other development options should be considered”.

Prior to the NNC referendum, FPN had been demanding that the City produce an independent cost-benefit analysis and business plan for the NNC. Stone questions “Why has the City refused to produce such reports? What is it afraid of?”

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