Marcom19 said "The company (Evergreen) went bankrupt. This is the second time the city got screwed by this company but Council likes egg in their faces. A lot of home owners on Kelsey Bay went to a City Council meeting to have the construction stopped as they were going to make an “emergency” exit onto Kelsey Bay. The so called councillors at the time mostly voted in favor of the construction and one councillor said the Kelsey Bay people were wasting Council’s time with this. This company left quite a mess devaluing Kelsey Bay property. "
If anyone got the short end of the stick here, it's the investors. A development was approved with conditions, then the developer started building, didn't pay any of the contractors the lenders take the land back and the developer leaves. A new developer takes over, pays off any debts and finishes the development.
Or do you think that council should have the power to see into the pockets of each developer to determine if they are fiscally responsible before approving a development?