Many questions about new deal

Dear Editor:

To the Penticton mayor and city councillors, I have a number of questions regarding the new Trio agreements proposed by this city (Herald, Nov. 2).

1 Does council have a physical copy of Trio’s new business plan? May I see it?

2 Were Trio’s business projections reviewed by an independent forensic accountant? Were they reviewed at all? May I see it?

3 Was a forensic search, of Trio’s financial history, done and was it done by an independent ,qualified firm? May I see it?

4 Was a lawyer who specializes in business used in drawing up the new agreements with Trio?

5 Does council have a physical copy of a “business” lawyers review of the new agreements offered to Trio? May I see it?

6 Does council have an annual $5 million performance bond payable to COP? May I see it?

7 Do you have physical proof that Penticton Indian Band is in full agreement to these offers? May I see that proof?

8 How can you base your revenue from Trio on a sliding scale of 2 – 4.5 per cent or 2 – 9 per cent on an undetermined amount of money and claim it is a good financial deal?

In plain language, you are asking the taxpayer to accept an unknown per centage ,of an unknown amount, to fund unknown future projects. How did you reach this formula?

9 Why, as Mitch Moroziuk stated on tape, are these agreements charging less than the original agreements for parts of this lease?

10 Apparently, a no rent and property tax guarantee of $36,000 for a short period of time will be in effect. Why? How long is a short period of time?

11 Has an independent accounting firm done a projection of costs comparing paying Trio off and getting out of this entire deal, to continuing with lawsuits? If not why not?

12 Has an independent accounting firm done a projection of the cost to dissolve the deal involving all park land and have Trio keep only the marina area and existing parking? If not why not?

This is the taxpayers money and public land. As taxpayers we have a right to expect you to investigate all avenues.

I look forward to hearing your answers to these questions, in a timely manner.

Building trust through communication.

Lynn Crassweller

Penticton