Regina | Capital Pointe | 29F | 11F | 91M | ?M | Cancelled

[one_brick_at_a_time]

Originally Posted by PhotoJim

Goodall? Jane Goodall?

perhaps Ralph Goodale?

[Nathan]

Originally Posted by Stormer

On the news today they showed several pieces of excavation equipment that had returned to the site.

I wasn't close enough to see in, but on the way to work, I did see an excavator moving around on the ramp.

[rrskylar]

Originally Posted by PhotoJim

Goodall? Jane Goodall?

It was a 4 beer post and all in all pretty close!

[Stormer]

Originally Posted by rrskylar

It was a 4 beer post and all in all pretty close!

Only 4? Oh yah it was Tuesday and still early.

[SaskE30]

Picture from today (22/11/2017). A couple pieces of equipment and a few workers on site. Doesn't look like much is happening though.

[Finessing]

http://business.financialpost.com/ne...ge-investments

In the past decade, more than 20,000 retail investors have put as much as $1.5 billion into syndicated mortgages, mostly in Ontario, according to regulatory sources. Roughly 90 per cent of those investments, the sources said, have ended in a loss or are at risk of doing so, and Fortress projects make up more than half of the investments.

In at least 10 of those cases, FSCO staff found possible breaches of Ontario law that they felt warranted action. The breaches included misleading marketing, selling products unsuited to clients’ risk tolerance, and failure to disclose the risks and costs of the investments, among other infractions.

Documents seen by Reuters show that in 2013, FSCO staff opened an investigation after the federal tax collector, the Canada Revenue Agency, sent information it said suggested that Fortress syndicated mortgages were, in effect, a Ponzi scheme.

Documents seen by Reuters also show that Canada’s federal police launched an investigation into Fortress’s syndicated mortgage business in October 2016. Six people told Reuters they had been interviewed as part of the inquiry, led by the Integrated Market Enforcement Team of the Royal Canadian Mounted Police (RCMP).

[Festivus]

Originally Posted by Finessing

http://business.financialpost.com/ne...ge-investments

This would have never happened if the city of Regina had not delayed getting them their permits for so long!

[prairieguy]

Originally Posted by Festivus

This would have never happened if the city of Regina had not delayed getting them their permits for so long!

I hope that was posted with sarcasm??!! Any delay in permits....would not explain away the years of delays and misinformation and stalled starts and stops.

I think the article above explains it very well....Fortress is not a company I would be looking to invest in.

[Festivus]

Originally Posted by prairieguy

I hope that was posted with sarcasm??!! Any delay in permits....would not explain away the years of delays and misinformation and stalled starts and stops.

I think the article above explains it very well....Fortress is not a company I would be looking to invest in.

Yes, very sarcastic!

[Drofmab]

Originally Posted by Festivus

This would have never happened if the city of Regina had not delayed getting them their permits for so long!

Don't forget SaskPower taking so long to... deal...with...uh........ wires & stuff.
And Environment Canada for all of the weather.

[mitchellk12]

Originally Posted by Drofmab

Don't forget SaskPower taking so long to... deal...with...uh........ wires & stuff.
And Environment Canada for all of the weather.

That damn mud sludge...

[TechnicalRecession]

Originally Posted by mitchellk12

That damn mud sludge...

There were some workers on site today, but it looked like nothing substantial occurring, more of the same, minor work being done. Anyone know when the latest permit runs out?

[HomeInMyShoes]

Originally Posted by TechnicalRecession

There were some workers on site today, but it looked like nothing substantial occurring, more of the same, minor work being done. Anyone know when the latest permit runs out?

Six months from the end of October I believe. So...April 2018? Let's call it May. I'm sure the hole might almost be finished at that point.

[Drofmab]

Originally Posted by HomeInMyShoes

Six months from the end of October I believe. So...April 2018? Let's call it May. I'm sure the hole might almost be finished at that point.

They must "begin meaningful construction" by the time it expires. If they don't, the City can deem it expired & not renew it.

...six years & we have a hole. That's not meaningful construction. But the City has continually renewed the permits. The City seems to look at each permit application/renewal with blinders on - ignoring the track record of this project ("well, they did have a truck on-site yesterday... so I guess that's 'meaningful construction.'" NO. No it isn't! That's a dude. In a truck. In a hole. Surfing YouTube.)

You know what a proactive city would be doing? They'd have their lawyers preparing the paperwork to deem the permit expired RIGHT NOW, so that when Fortress inevitably walks in looking for an extension, they can deny it on the spot. They'd also have their lawyers preparing for a court case. They might even have outside counsel double-check the strength of their arguments, and bolster the case as necessary.

The City has to see the writing on the wall - this project will never be completed. Giving Fortress the benefit of the doubt, they don't have the competence to complete the project (more probable: they've never intended to complete it). This is obvious.

And even if we suspend reality for a moment & pretend that they honestly want to get this project finished... too bad, so sad. They can reapply for a permit at some point in the future (at which point, they'll need to re-excavate the hole, since the City filled it in for them, and charged the full cost to their Property Taxes).

[Stormer]

Originally Posted by Drofmab

They must "begin meaningful construction" by the time it expires. If they don't, the City can deem it expired & not renew it.

...six years & we have a hole. That's not meaningful construction. But the City has continually renewed the permits. The City seems to look at each permit application/renewal with blinders on - ignoring the track record of this project ("well, they did have a truck on-site yesterday... so I guess that's 'meaningful construction.'" NO. No it isn't! That's a dude. In a truck. In a hole. Surfing YouTube.)

You know what a proactive city would be doing? They'd have their lawyers preparing the paperwork to deem the permit expired RIGHT NOW, so that when Fortress inevitably walks in looking for an extension, they can deny it on the spot. They'd also have their lawyers preparing for a court case. They might even have outside counsel double-check the strength of their arguments, and bolster the case as necessary.

The City has to see the writing on the wall - this project will never be completed. Giving Fortress the benefit of the doubt, they don't have the competence to complete the project (more probable: they've never intended to complete it). This is obvious.

And even if we suspend reality for a moment & pretend that they honestly want to get this project finished... too bad, so sad. They can reapply for a permit at some point in the future (at which point, they'll need to re-excavate the hole, since the City filled it in for them, and charged the full cost to their Property Taxes).

I disagree that the City should be proactive on this. It's not their responsibility to micromanage private property. If the property ever is abandoned and is becomes a safety hazard they will have to act but why would they waste their time and our money before that?

[Drofmab]

Originally Posted by Stormer

I disagree that the City should be proactive on this. It's not their responsibility to micromanage private property. If the property ever is abandoned and is becomes a safety hazard they will have to act but why would they waste their time and our money before that?

I suspect we'll have to agree to disagree on this point.

Giving this property owner a 6 year leash to do as they please isn't my definition of 'micromanaging.'

The City 'micromanages' other (arguably less important) private property issues. For example: using the Community Standards Bylaw & Clean Property Bylaw to get a homeowner to cut their lawn or weeds; or not permitting fence to form one side of a dog run. None of these is typically a health or safety issue... at worst, they're usually an eyesore or annoyance to neighbours.

Guess what else is an eyesore & annoyance to neighbours?

[Stormer]

Originally Posted by Drofmab

I suspect we'll have to agree to disagree on this point.

Giving this property owner a 6 year leash to do as they please isn't my definition of 'micromanaging.'

The City 'micromanages' other (arguably less important) private property issues. For example: using the Community Standards Bylaw & Clean Property Bylaw to get a homeowner to cut their lawn or weeds; or not permitting fence to form one side of a dog run. None of these is typically a health or safety issue... at worst, they're usually an eyesore or annoyance to neighbours.

Guess what else is an eyesore & annoyance to neighbours?

Those other issues are easy to deal with though. Who wants to deal with a 5 story hole and a bunch of legal challenges until you really need to.

[Drofmab]

Originally Posted by Stormer

Those other issues are easy to deal with though. Who wants to deal with a 5 story hole and a bunch of legal challenges until you really need to.

True.

But at the same time, when it becomes painfully obvious that the hole will exist in perpetuity (much like the Springfield Tire Fire (est. 1989)), if no action is taken, that might be a sign that they really need to deal with it.

[PhotoJim]

Originally Posted by Stormer

Those other issues are easy to deal with though. Who wants to deal with a 5 story hole and a bunch of legal challenges until you really need to.

At this point, it's a 5-storey hole and a 5-story hole both.

[HomeInMyShoes]

Originally Posted by Stormer

I disagree that the City should be proactive on this. It's not their responsibility to micromanage private property. If the property ever is abandoned and is becomes a safety hazard they will have to act but why would they waste their time and our money before that?

Is not having the bus lane available on Albert for the express buses during rush hour not a hazard? That shouldn't go on for years as it has and appears to contain. I'd also be ticked off if I was Belgian Cleaners with less access to their business for what might be approaching a decade in short order. Someone needs to lean on these idiots.