Police probe Montreal university P3 deal
Criminal investigation comes on the heels of provincial auditor's report.
MONTREAL, August 26, 2008 — Police are probing a public-private real estate development that has driven the Université du Québec à Montréal to the brink of bankruptcy.
The Sûreté du Québec's criminal investigation comes on the heels of a provincial auditor's report detailing how senior university officials mismanaged the Îlot Voyageur development and kept others overseeing the project in the dark about the deal's growing costs.
The original plan to redevelop a downtown Montreal bus terminal included an office building, two university residence towers, a university pavilion, and a large underground parking lot. The untendered contract was awarded to the Busac Real Estate corporation, which is reported to have links with the ruling Liberal party.
Three years into the contract, the redevelopment is incomplete, and costs have risen from $333 million in March 2005 to $529 million. . .
Links and sources
Police probe Montreal university P3 deal, posted on CUPE.ca, August 26, 2008
Posted: September 03, 2008
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