While it is difficult to obtain all the details surrounding the dealings that led to Commonwealth Health  buying and renovating the former  Chances Gaming Centre downtown,  this much is known:

The  renovation of the Gaming Centre was pitched as the catalyst for the greater project "The New Downtown".  The project application for  funding  under the Community Adjustment Fund,  said  that by March 31st of 2011, the  renovated Commonwealth Health building would create, maintain or expand 53 jobs,  create 10  businesses, and maintain or expand  2 more businesses.

 

The initial application from Commonwealth Health  to  NDI Trust  for a loan  under the Community Adjustment Fund was for $1.5 million.  That amount was trimmed back to  an even $1 million  at the request of NDI Trust which said  it wanted to ensure the fund had enough money to  support  more projects.

 

The application would have first gone to Western Economic Diversification which would then  channel the application  back to Northern Development Initiatives Trust for review.

Once a short list was  developed,  the  project applications would be passed to  the  M.P. in the riding for review and comment.   Then , the  suitable applications would be presented to the NDI Trust Board  for final approval.

 

On July 22nd, 2009,  the  suitable applications were put before the NDI Trust Board.   The attached document shows who was at the meeting, it shows that the board voted unanimously in favour of the matter, but what was asked at the meeting to approve the loan or any other details as to how the Board approved the process was met with,”not responsive to the request”.

 

 

 

The good financial  news for the Commonwealth Health  Centre don't stop there.

 

Let's remember this is a building which was  given a  municipal tax break  because  it qualified under the  "Downtown Revitalization Tax Exemption" program.  That tax break  was  good until  2012, and the  City's Ian Wells, Manager of  Real Estate Services for the City , sent the following letter to Commonwealth Health advising the  exemption could be renewed for  5 years:

 

The full value of the tax break is not known, we have  not had a response from City Hall.

 

We do know there had been an effort to  stretch out  revitalization tax breaks  for  as long as 25 years for  property owners who made improvements to their downtown holdings.

 

The Downtown Business Improvement Association (DBIA)  supported the move but a study undertaken on behalf of the city said these kinds of concessions will not work and City Hall voted against pursuing the  idea of extending the tax breaks. It is known that the province also did not support any increase in the length of the tax breaks.

 

The Directors of Commonwealth Health are Dan McLaren, Principal Operator of Commonwealth Financial (Director on the DBIA), Don Kehler, Vice President Commercial Markets, Royal Bank Prince George (also a Director on the DBIA) David McWalter President of L&M Engineering (also on DBIA Board of Directors), and Grant and Mark Dakus, owners of a Prince George sorting yard.