Liability side of balance sheet

Letters

The Aug. 17, 2011 letter from Mr. Parliament in relation to the boat launch fails to mention the district paid $915,000 for the property, making the project cost $2.75 million, not $1.84 million. The cost to the district is $1.55 million, not $635 thousand, leaving aside the lost tax revenue from the property.

The letter implies that there will be free slip space for non-profits/others, which is not the case, and states that there will be fuel service, which is no doubt quite a surprise to SNC Lavalin, who inexplicably missed it in the environmental assessment, and the contractor, who doesn’t appear to have installed it.

It asserts that the facility will be free to the public, although the first line of the Performance and Progress Measures in the business case submitted in support of funding states that the measurement of success will be an increase in launch fees.

Another objective is: “Encourage physical activity and outdoor lifestyle through water sports; ie. kayaking, sailing, canoeing, fishing.” The performance measure is, “Dedicated use of the boat launch for water sports groups,” an apparent exclusion of charter operators that would appear to explain why the parking design is practically useless for anything bigger than a car-topper, and with a 5’ draught on my sailboat, I doubt I’ll be putting in there much.

A partnership means an equity position, not a long-term liability. With both  EPCOR and the convention center “partnerships” Sooke’s position is on the liability side of the partnership balance sheet.

Terrance Martin

Sooke

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Environment Canada has issued a wind warning for Greater Victoria, with winds expected to get up to 70 km/h Friday morning. (Don Denton/Black Press Media)
Wind warning promises blustery Friday for Greater Victoria

Winds up to 70 km/h expected Friday morning

Passengers in rows 13 to 19 on Air Canada Jazz flight 8069 from Vancouver to Victoria Feb. 28 were exposed to a case of COVID-19. (THE CANADIAN PRESS/Nathan Denette)
COVID-19 exposure found on flight from Vancouver to Victoria

Passengers in rows 13 to 19 on Air Canada Jazz flight 8069 Feb. 28 affected

Crews deal with a rock slide on the Malahat section of Highway 1 in 2017. (Black Press Media file photo)
Rock work closes Highway 1 in Langford for spurts

Friday closures could delay drivers up to 20 minutes

Low interest rates have acted as a catalyst for the pandemic real estate market. (THE CANADIAN PRESS/Graeme Roy)
Real estate sales surging across Greater Victoria but risks lie ahead

Single family home prices jump nine per cent over past year while condo values remain stable

Protestors against old growth logging gather in front of the courthouse in Victoria on Thursday morning. (Don Denton/Black Press Media)
Fairy Creek protesters gather at Victoria courthouse

Logging company seeks injunction to remove blockades near its Port Renfrew operation

B.C. Health Minister Adrian Dix and provincial health officer Dr. Bonnie Henry head for the B.C. legislature press theatre to give a daily update on the COVID-19 pandemic, April 6, 2020. (B.C. government)
B.C. nears 300,000 COVID-19 vaccinations, essential workers next

564 new cases, four deaths, no new outbreaks Thursday

(Black Press Media file photo)
POLL: How’s your butter?

Recent reports have some Canadians giving a second look to one of… Continue reading

Anyone with information on any of these individuals is asked to call 1-800-222-TIPS (8477) or visit the website victoriacrimestoppers.ca for more information.
Greater Victoria Crime Stoppers wanted list for the week of March 2

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

Walter Gretzky father of hockey hall-of-famer Wayne Gretzky waves to fans as the Buffalo Sabres play against the Toronto Maple Leafs during third period NHL hockey action in Toronto on Tuesday, Jan. 17, 2017. THE CANADIAN PRESS/Nathan Denette
Walter Gretzky, father of the Great One, dies at 82

Canada’s hockey dad had battled Parkinson’s disease and other health issues

The intersection of Melrose Street and Third Avenue. (ELENA RARDON / ALBERNI VALLEY NEWS)
Suspect in custody after two pedestrians struck in Port Alberni hit and run

RCMP asking for video footage, credit witnesses for quick arrest

(National Emergency Management Agency)
No tsunami risk to B.C. from powerful New Zealand earthquake: officials

An 8.1 magnitude earthquake shook the north of New Zealand Thursday morning

Comox Valley RCMP had access to 20 Street blocked off between Cousins and Choquette avenues as they conducted a raid of a house on the block. Photo by Terry Farrell
Comox Valley RCMP raid Courtenay problem house, several arrests made

Comox Valley RCMP conducted a raid of a problem house on 20th… Continue reading

(AP Photo/Richard Vogel, File)
Pandemic stress, isolation key factors as to why Canadians turned to cannabis, alcohol

Study found that isolation played key role in Canadians’ substance use

Grand Forks’ Gary Smith stands in front of his Church of the Flying Spaghetti Monster float. Photo: Submitted
Grand Forks’ Flying Spaghetti Monster leader still boiling over driver’s licence photo

Gary Smith, head of the Church of the Flying Spaghetti Monster of B.C., said he has since spoken to lawyers

Most Read