According to an article by The Intelligencer yesterday, building permits for the new Quinte Exhibition and Raceway have finally left city hall after what city officials describe as an unusually long wait
.
The report cites Spencer Hutchison, manager of approvals with Belleville’s planning department, as saying that weeks after site plan agreements were prepared, signed off on and ready to be sent, Baymount lawyers requested the documents to be couriered to Baymount.
Hutchison referred to the wait as "abnormal," and that "usually, if it’s someone who’s local they pick it up within a day or two and if it’s out of town we get instructions on where to courier it to and send it out immediately.”
The Intelligencer article quotes John Walzak, chief operating officer for the Ontario Harness Horse Association. His sentiments on the situation echo concern.
“We’re very concerned," Walzak said. "We very much want to see the racetrack happen in Belleville and, frankly, if it’s Baymount or if it’s Acme Racing it doesn’t really matter to us. We want to see this happen and it’s not happening. It’s very distressing.”
In late December of 2008, Baymount’s moved to refinance its existing mortgages.
To read the article in its entirety, click here.
(With files from The Intelligencer)
Am I reading the article
Am I reading the article correctly? Refinancing a $1.85 million mortgage to $2.5 million at 15%. The Bank of Canada should buy into this since their rate is 1.5%, isn't it? Last time I read about this I thought the term was two months not two years.