Lora Grindlay
Province
An independent financial assessment is under way of a land swap between the Vancouver Whitecaps and the Vancouver Port Authority to make way for a $75-million waterfront stadium.
Port authority spokeswoman Anne McMullin said it could take months to determine whether the land exchange proposed by the soccer team is of “comparable market value” and to determine whether land obtained by the authority can be used for shipping and navigation purposes. Both factors are required by federal legislation, she said.
The exchange involves Whitecaps-owned land over rail yards along Waterfront Road and vacant port land close to the Helijet terminal.
McMullin said any deal would have to be approved by Transport Canada.
The proposed stadium was on the table yesterday in a meeting between Vancouver Mayor Sam Sullivan and Transport and Infrastructure Minister Lawrence Cannon in Ottawa.
‘Caps president Bob Lenarduzzi was encouraged that the stadium was a topic of discussion in Ottawa.
“It is frustrating that it has taken this long but we have another meeting with [the authority] this week and we hope to make some headway at that time.”
Discussions between the city and the Whitecaps regarding a new stadium began in January 2003.
Once a location and an agreement with the port authority is finalized, the team faces a rezoning and development process with the city that could take up to 18 months.
“Our desire, our hope is that it would take far less than that,” Lenarduzzi said.
Timing is important, Lenarduzzi said, if the ‘Caps have a hope of clinching a Major League Soccer expansion franchise.
“There are a number of cities that are in the mix right now, us being one of them, but without having a confirmation of our venue we wouldn’t be in the mix,” he said.
© The Vancouver Province 2007
