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247 King St. N. We'd-loo (on Univorsify at King st) MW.‘ an IT’S ABOUT TIME avenvous HAD A my; "MD? on an l" 'ill?.] 3$ane V6 5006an FiorN6FuarAtr 'a1,tTa"pgt,gg'i'f,Tklsog',', Til Cruse AWFWC TurnedGmss 795W 4000a 0mm _,_ Mun-h- CMPMOHIV ott 746-0026 'tnt." '23,999' Robson protected under Canada Evidence Act Continued from page I considered saleable to prospective clients. I Bist he assured, the clients' objectives were always top priority. “MFP .215- a company had certain obPctiyts/' he said. 'And ode of those objec- tives. he said, was "making sure our clients' objectives. . o . Council gives green light to 13-storey housing complex Continued from page] until the city's height and he said, the OMB could "l really feel this is fair." density study is complete in approve an even larger But Conn. Morty Taylor all was that his neighbour- late February. building than what's pro- said council should pay hood wasn't notified of the "it seems like you're posed in the settlement. more attention to the wishes settlement. He found out putting the cart before the Most of council agreed ofits citizens. about the play when he horse here," he said. the settlement is a fair com- "I dorit see this as a rea- made an inquiry into the "The city gave me the promise. sonable compromise," he upcomingOMB hearing. _ idea it was committed to "It's not ideal," said saidfl‘m disappointed fora "This comes close on the heels of a vote against this plan just a few meetings ago," he said. "Fourteen storeys wasn't OK. But now 13 storeys is? It doesn't make sense" Whaley said council should delay the approval as well as our own objec- lives. were met as best we could." Robson said two com- mon client objectives were off balance sheet transac- tions and budgetary flexibit- ltV. "Once we understand what the client wants to receive. then we know what we're selling," Robson said. "The city gave me the idea it was committed to looking at height and densi- ty, and that council felt (highrise) was not suitable on that site." Greg Romanick. the city's director of development ser- vices, reminded council the city's chances to win an OMB decision are slim. And, ETL- mumw D0HCeprte5et,DualA'rNgs, MAFIA/CD H'M.FMWCW1TM 11.6.5? Ott 10.5; alumnu- “Mun-um "Cubism. And a common sales method, he said, was telling clients MFP could help them accomplish their objectives with a relatively low-rate cost of funds. The City of Waterloo claims Robson gave officials a similar sales pitch when negotiating the financing for RIM Park in early 2003. Officials claim Robson "It's not ideal," said Coun. Brent Needham. "But it saves the neighbourhood in a sense that it could be more in line wim their expectations than what may arise at the OMB." "l think we were going to lose the OMB hearing." added Coun. Dave Roeder. AP' KW KIA ADVANTA tLd 'll ,400' promised an interest rate of about 4.73 per cent on the transaction, which translat- ed into a cost of $112.9 mil- lion for the facility. In reality. however, the interest me sat at over nine per cent, which shot the price of the park up to $227 million. Robson's testimony con- tinues today. "I don't see this as a rea- sonable compromise," he said. "I'm disappointed for a series of reasons, with one being we've been told we have an ample supply of student housing in the fore- seeable future. "By adding hundreds and hundreds of more people, we're only going to increase traffic congestion." f. C" '. if , q Ace, 4'34";