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small story on port negotiations...

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quote:Vancouver Whitecaps to face off against the Vancouver Port Authority?



The Vancouver Whitecaps and the Vancouver Port Authority are at loggerheads on a land swap that would allow the soccer team to progress to the next stage of developing a waterfront stadium adjacent to Gastown.

Pat McLaughlin, the port's director of planning and development says whitecaps owner Greg Kerfoot's development intentions will interrupt the function of the port.

The port has also calculated fair market value for the land, which they estimate at 30 to 35-million dollars. The Whitecaps are offering one dollar for the land.

There is no timeline for the completion of negotiations.

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Just an update to this...

Lenarduzzi fired back that the comments by McLaughlin were "complete garbage" and "they're not telling the whole story." He said the $1 dollar analogy was "completely out of context."

He revealed that the Caps are offering 30,000 sq metres in exchange for 10,000 from the port.

He was royally pissed that the port discussed details with the media... and he took a great shot at them by saying "...this is indicative of the level of professionalism we've been dealing with through this process."

Bottom line is the Port thinks they'll be shortchanged by $35 million if they swap land with the Caps.

Funny how this comes out hot on the heels of the St. Paul's story.... maybe there's something to this after all?

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