Update: There were NO BIDS on the Bear Mountain properties at the auction. Party poopers!
Whatever you do, YOU MUST get your ass down to Langford City Hall on Monday, September 28 at 10 am sharp for the real-estate auction of the year! One lucky bidder could scoop up this $7 million property for as little as $351,000!
Lot A, Plan VIP81958, Sec. 81/82/84, Bear Mountain Parkway (outlined in blue). It's just past the "tunnel" on the way to the resort, for local reference. Photo credit: CRD.
A second multi-million dollar property at 2198 Navigators Rise (Parcel ID 025-088-106) is also on the block, and bids start at $75,000. A mere pittance! Bonus: Len Barrie's had a development permit on the property since 2004. So anyone with a little patience should be able to unearth all kinds of arrowheads, artifacts and native bones. Imagine the tourist market potential!
Why invest in piddly Bear Mountain Resort "shares" (at full market value) when you can OWN prime real estate (with full commercial and residential zoning) for literally PENNIES ON THE DOLLAR?*
Hey, you're not stupid, are you? Of course not! So come on down to Lenny and Phil's once-in-a-lifetime (so far) tax auction! Come early, don't be late!
*Some conditions apply. Winning bidder must wait up to one year for current owner to default. Check local bylaws for details about expensive interchange re-payment covenants attached to at least one of the properties.
We're sorry that Len Barrie defaulted on the interchange loan. (Maybe he hasn't defaulted yet, but WTF does "postponed indefinitely" mean exactly?)
We're sorry to hear that Bear Mountain is on the verge of financial collapse.
We're sorry about the five-to-ten-million-dollar hole this leaves in the city budget, and in our pockets. We're sorry about the five million dollars more that everyone in the province paid for this mess. We're sorry Langford is trying to screw everyone in Canada for $32 million in new construction costs.
We know it's not our fault, but we're very sorry that we didn't bring this to your attention sooner. After all, Barrie's repayment date passed six months ago. How could we miss that? How can we call ourselves Langford's top gossip-mongering muckraker scandal-rag now? What happened to us?
And we're really really sorry for being so damned right all the time. Really. Langford city officials and their developer buddies keep fulfilling our lowest expectations and worst predictions. We wish they would prove us wrong, just once. We would be delighted to be wrong! Maybe then we could stop yelling, "WTF Langford? We WARNED you this would happen, you smug hypocritical BASTURRRRDS!"
Barrie accused of misusing fundsBear Mountain may indeed be a money-losing bottomless pit (as we predicted last week) but will it turn out to be a money-losing bottomless pit run by thieving criminal lunatics? That's the question of the day!
UPDATED Wed. Sept. 2
David Shoalts, Globe and Mail. Photo: Bruce Bennett/Getty Images
Len Barrie took money improperly from the Bear Mountain resort and its investors in order to pay for his share of the Tampa Bay Lightning, according to a member of the real-estate development's executive committee.
Scott Bye, a financial adviser to a group of NHL players who was appointed to Bear Mountain's executive committee after the players became concerned about its finances, said yesterday that Barrie, the chief executive officer of Bear Mountain, owes the company "between $16-million and $20-million dollars."
Barrie told The Globe and Mail on Monday that all of the money in question was either paid back or accounted for, following a damning report by the company's auditor, but Bye said yesterday this was not true.
"To my knowledge, zero," Bye said in a telephone interview from his office in Fargo, N.D., when he was asked how much of the disputed money was paid back by Barrie.Read the rest.
Related: Where's Len Barrie's Bailout?
Would you support a company that paves over rare species, breaks its promises, relies on force and intimidation, and destroys native cultural sites?
Barrie brags about destroying the sacred cave and sending his goon squad to abuse native elders. His resort is built on native grave sites. He destroyed beautiful and rare ecosystems to build a tacky golf resort on a windy, cold mountaintop. His arrogance and double-dealing have made him one of the most-hated men on Vancouver Island.
Barrie and his investors chose to make backroom deals with the City of Langford and the province to fast-track his resort development. He chose not to consult with local residents, respect aboriginal rights, comply with environmental best practices, or accommodate the community in any significant way. And now he is facing the consequences.
Why would ANYONE do business with Bear Mountain Resort?