Quote:
Originally Posted by pappcam
And from what I understand was never dug down to the actual depth. It's just a big effen ponzi scheme that will now be hung up in the courts for a few years.
Good times.
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It really is just a scheme for syndicated mortgages - there is likely no intention to ever develop the property. Even though this is a City issue, the Province needs to get some balls and step in here, they pass the laws that allow the City's to deal with this kind of development nonsense, and their laws are the reason the City can't deal with this issue in an expedited manner. The problem is they are already dealing with their own go-nowhere development (GTH) which makes it hard to come down on anyone else.