The existence of two sets of books and figures are an indication, at the very least, of 1) incompetence, 2) fraud.
The fact that board members and directors of the Waterfront Trust have no idea of why or how the numbers appear as they do indicates that they are not in control in the slightest. Jason Farr, councilor and WT board member has the audacity to claim that one of the best things that the WT has going for it is its ability to execute. Really?! Execution isn’t just watching a cute idea unfold and then unravel, ie: The Williams Cafe, the little Train, the Harbour Queen.
These things all lose money and have depleted the long term investments so that, surprise, the WT now comes to the city each year for more funding.
If the cafe makes sense then it should be sold to private interests who will manage it meticulously for their benefit and we will all be better off. The WT can collect a reasonable amount of rent and stay out of operations of which it has little knowledge.
If the Train makes sense then there is surely someone that will want to keep it running. The WT should be setting things up so that the private sector can make a meaningful and sustainable contibution to the Waterfront. It shouldn’t be operating a variety of losing propositions and thus continuing to squander our scarce resources.
The entire board should be dismissed and the whole enterprise re-thought. They have squandered money and time and are now looking to receive more funding. The city should not be funding a vareity of projects that have no possibility of long term success, as if they were an civic entreprenuerial crack outfit. Councillors that claim oversight but don’t/can’t deliver must be removed from the boards.
The director clearly has no idea of why and how things are the way they are and even offers an absolutely innane reason as to why there are such huge discrepencies between revenue in one set of books and lack of revenue in another set of books.
No one is entitled to mismanage forever, Farr,in addition to the others on the board,has no right to continue in that position.The city cannot afford to keep paying for their ineptitude!