This Abbotsford Entertainment and Sports Centre, built with city tax dollars and leased to an opposing AHL farm team, basically in the Vancouver Canucks’ back yard, and tied together with a few outside investors, is nothing more than a huge scam against us taxpayers.
It’s OK with the individual investor to lose money, because they can claim their losses against their profits from other ventures, saving them federal and provincial taxes. But us poor municipal taxpayers will have to be taxed at a higher rate to make up for all the losses incurred for the full 10 years of the contract with the Abbotsford Heat.
The individual investors aren’t covering the losses, unless they live in the Abbotsford area and pay taxes.
Mayor George Peary and his cronies aught to be charged, big time, for using our taxes on a venture not approved by the taxpayers.